The feasibility of using pyrene as a fluorescent probe in complexes cyclodextrin-pyrene-analyte in aqueous solutions was studied for several analytes (A) of different polarity. Bands that prove the formation of the complex Py 2 βCD were found for the first time in the UV-VIS spectrum of an aqueous solution of pyrene in the presence of β cyclodextrin. A characteristic of a fluorescent probe is the ratio I 3 /I 1 in the fluo rescence spectrum, where I 3 is the intensity of the third vibronic line at ~800 cm -1 , and I 1 is the intensity of the 0-0 transition. The value of I 3 /I 1 for Py 2 βCD is highly sensitive to the addition of an analyte with a con centration of several μM/L to the aqueous solution. Dependences of (I 3 /I 1 )/C on the function of the dielec tric constant ε of the analyte fε= (ε -1)/(2ε + 1) are divided into two straight lines with different slopes for nonpolar and polar solvents. Energies of insertion of analytes into Py 2 βCD were calculated by the quantum chemical PM3 method. An increase in (I 3 /I 1 )/C corresponds to the more thermodynamically stable complex 2APy 2 βCD.