Chromophoric dissolved organic matter (CDOM) plays important roles in aquatic environments, and its optical properties provide a series of indices for evaluating the source and composition of dissolved organic matter (DOM). However, little is known about the varying photodegradation of CDOM from different sources and the effects on the optical indices of DOM composition. This was studied for typical natural and anthropogenic sources (plant and leaf litter leachates, the influent and effluent of a wastewater treatment plant, and a river). The CDOM absorption (a280) showed a lower degradability for the plant leachate than other sources, mainly due to its low molecular weight and aromaticity. Four fluorescent components were identified with excitation–emission matrices-parallel factor analysis (EEMs-PARAFAC), namely benzoic acid/monolignol-like C1, humic-like C2 and C3, and tryptophan-like C4. The plant leachate contained mainly C1, which was photodegraded moderately, while other sources had more C2 and C3 with higher photodegradability. C4 was photodegraded in most sources but was photoproduced in the leaf litter leachate. The absorption slope (S275–295) and slope ratio (SR) increased while the humification index (HIX) decreased, suggesting a decreasing molecular weight and humic content by photodegradation. This was consistent with the decreasing %C2 and %C3 but increasing %C4, which indicated preferential removal of humic-like components. The %C1, %C2, biological index (BIX), and fluorescence index (FI) were less affected by photodegradation than other indices for most sources. These results have implications for a better understanding of the photochemistry of CDOM and the applications of optical indices.