The photodissociation dynamics of H2Fe(CO)(4) have been studied through wave packet propagations on CASSCF/CCI potentials, calculated for the electronic ground and excited states, as a function of two coordinates q(a) and q(b) corresponding to molecular hydrogen elimination and CO dissociation, respectively. The theoretical absorption spectrum is characterized by two bands at 272 nm (36 700 cm(-1)) and 246 nm (40 500 cm(-1)) which have been assigned to the a(1)A(1) --> a(1)B(1) and a(1)A(1) --> b(1)A(1) transitions. respectively. The first band corresponds to the experimental maximum observed around 270 nm. A semiquantitative mechanism has been proposed for the photodissociation of the title molecule: (i) under irradiation at 254 nm, the a(1)B(1) (3d(yz) --> sigma(g)*) and b(1)A(1) (3d(x2-y2) --> sigma(g)*) excited states will be populated; (ii) from the b(1)A(1) state, the molecule will dissociate in a total and ultrafast (less than 40 fs) reaction toward the formation of Fe(CO)(4) and molecular hydrogen; (iii) after the initial a(1)A(1) --> a(1)B(1) transition, the reactive system will evolve into two competitive channels, leading mainly to the elimination of H-2 ina very short time scale (40 fs) and as second minor primary reaction (4%) toward the CO dissociation in 100 fs. The nonradiationless transitions to the low-lying triplet states occur in a picosecond time scale and have a rather low probability indicating the minor role of the triplet states at the early stage of the photodissociation.