We consider solvability of the generalized reaction-diffusion equation with both space-and timedependent diffusion and reaction terms by means of the similarity method. By introducing the similarity variable, the reaction-diffusion equation is reduced to an ordinary differential equation. Matching the resulting ordinary differential equation with known exactly solvable equations, one can obtain corresponding exactly solvable reaction-diffusion systems. Several representative examples of exactly solvable reaction-diffusion equations are presented.