Infrared (IR) spectroscopy and electron paramagnetic resonance (EPR) are combined to study photodissociation of formaldehyde at photolysis wavelengths 308, 248, and 193 nm in rare gas matrixes. The photodissociation cross sections derived from the IR data show strong dependence on the matrix host and photolysis wavelength. Dissociation efficiency in Xe is 1-2 orders of magnitude higher than that in other matrixes. The kinetics of formation of atomic hydrogen and the final H atom concentration in the fully photolyzed sample vary significantly in different matrixes. In the 248 nm photolysis, the final number of H atoms in Kr and At matrixes is only 1/20 and 1/40 of the Xe matrix number, respectively. This behavior is discussed in the frame of a simple kinetic model. The anomalously fast dissociation at 193 nm in Xe matrix is discussed.