The quaternary chalcogenide crystal Cu2CdGeS4 was studied both experimentally and theoretically in the present paper. Investigations of polarized fundamental absorption spectra demonstrated a high sensitivity to external light illumination. The photoinduced changes were studied using a cw 532 nm green laser with energy density about 0.4 J cm(-2). The spectral maximum of the photoinduced anisotropy was observed at spectral energies equal to about 1.4 eV (energy gap equal to about 1.85 eV) corresponding to maximal density of the intrinsic defect levels. Spectroscopic measurements were performed for polarized and unpolarized photoinducing laser light to separate the contribution of the intrinsic defect states from that of the pure states of the valence and conduction bands. To understand the origin of the observed photoinduced absorption near the fundamental edge, the benchmark first-principles calculations of the structural, electronic, optical and elastic properties of Cu2CdGeS4 were performed by the general gradient approximation (GGA) and local density approximation (LDA) methods. The calculated dielectric function and optical absorption spectra exhibit some anisotropic behavior (shift of the absorption maxima in different polarizations) within the 0.15-0.20 eV energy range not only near the absorption edge; optical anisotropy was also found for the deeper inter-band transition spectral range. Peculiar features of chemical bonds in Cu2CdGeS4 were revealed by studying the electron density distribution. Possible intrinsic defects are shown to affect the optical absorption spectra considerably. Pressure effects on the structural and electronic properties were modeled by optimizing the crystal structure and calculating all relevant properties at elevated hydrostatic pressure. The first estimations of the bulk modulus (69 GPa (GGA) or 91 GPa (LDA)) and its pressure derivative for Cu2CdGeS4 are also reported.