The complex tetraphenylcyclobutadiene palladium(IV) chloride shows a longest-wavelength absorption at λmax = 530 nm which is assigned to a LMCT transition from the C4Ph4 dianion to Pd(IV). LMCT excitation leads to the release of Pd(CH3CN)2Cl2 and neutral C4Ph4 which dimerizes to octaphenylcyclooctatetraene.