Polymorphs of anthracene derivatives exhibit diverse photophysical properties that can help to develop efficient organic-based photovoltaic devices. 10-Anthryl-9-phosphoanthracene (10-APA) shows different photophysical behaviors for the solid state due to its variety in crystalline arrangement. Herein, we investigate the ground and excited-state properties of the monomer and two different polymorphs of 10-APA from f irst-principles. Calculations reveal that strong spin−orbit coupling (SOC) between first excited singlet state (S 1 ) and triplet manifolds at their S 1 -optimized geometries enabling the reverse intersystem crossing (RISC). The electron−vibration coupling (Huang−Rhys factor) in the excited state is the most relevant factor here. For both ISC and RISC, a similarity in Huang−Rhys factors for the molecular vibration along the π•••π stacking at low-frequency region makes the rates effective. On the other side, the nonvanishing vibronic relaxation modes provide a relatively slower RISC rate in the red crystal. However, for the red crystal, small reorganization energy (λ) and large Huang−Rhys factor toward S 1 → S 0 conversion reduce nonradiative decay, leading to a prompt fluorescence. As the feasibility of S 1 ↔ T 1 conversion increases in the yellow dimer, it allows a delay in fluorescence emission, leading to thermally activated delayed fluorescence (TADF).