The broad band UV photochemistry of acetylacetaldehyde, the hybrid form between malonaldehyde and acetylacetone (the two other most simple molecules exhibiting an intramolecular proton transfer), trapped in four cryogenic matrices, neon, nitrogen, argon, and xenon, has been studied by IRTF spectroscopy. These experimental results have been supported by B3LYP/6-311G++(2d,2p) calculations in order to get S0 minima together with their harmonic frequencies. On those minima, we have also calculated their vibrationally resolved UV absorption spectra at the time-dependent DFT ωB97XD/6-311++G(2d,2p) level. After deposition, only the two chelated forms are observed while they isomerize upon UV irradiation toward nonchelated species. From UV irradiation effects we have identified several nonchelated isomers, capable, in turn, of isomerizing and fragmenting, even if this last phenomenon seems to be most unlikely due to cryogenic cages confinement. On the basis of these findings, we have attempted a first approach to the reaction path of electronic relaxation. It appeared that, as with acetylacetone, the path of electronic relaxation seems to involve triplet states.