A promising material in medicine, electronics, optoelectronics, electrochemistry, catalysis, and photophysics, tetrasulphonated aluminum phthalocyanine (AlPcS4), is investigated by means of steady-state and time-resolved pump-probe spectroscopies. Absorption and steady-state fluorescence spectroscopy indicate that AlPcS4 is essentially monomeric. Spectrally resolved pump-probe data are recorded on time scales ranging from femtoseconds to nanoseconds. The nature of these fast processes and pathways of the competing relaxation processes from the initially excited electronic states in aqueous and organic (dimethyl sulfoxide) solutions are discussed. The decays and bleaching recovery have been fitted in the ultrafast window (0-10 ps) and later time window extending to nanoseconds (0-1 ns). While the excited-state dynamics have been found to be sensitive to the solvent environment, we were able to show that the fast dynamics is described by three time constants in the ranges of 115-500 fs, 2-25 ps, and 150-500 ps. We were able to ascribe these three time constants to different processes. The shortest time constants have been assigned to vibrational wavepac.ket dynamics. The few picosecond components have been assigned to vibrational relaxation in the excited electronic states. Finally, the 150-500 ps components represent the decay from S-1 to the ground state. The experimental and theoretical treatment proposed in this paper provides a basis for a substantial revision of the commonly accepted interpretation of the Soret transition (B transition) that exists in the literature.