The imperative role of formaldehyde (HCHO) intermediates in the formation of aromatics during the methanol-tohydrocarbons process has drawn extensive interest. Herein, using synchrotron radiation photoionization mass spectrometry (SR-PIMS) combined with a near-ambient pressure reactor, abundant critical intermediates including HCHO along with oxygenated species (C1− C4 carbonyl compounds, α,β-unsaturated aldehydes, and cyclopentenones) and polyunsaturated hydrocarbons (dienes, polyenes, and fulvene) were identified during the methanol-to-aromatics reaction over Zn-modified HZSM-5. HCHO derived from the direct dehydrogenation of methanol was proved to noticeably promote aromatic selectivity. With the assistance of 13 C-labeled HCHO cofeeding, a detailed HCHOmediated monocyclic and polycyclic aromatic formation network involving Prins, hydroacylation, and aldol condensation reactions of HCHO was proposed. This proposed mechanism provides profound insight into multiple roles of HCHO intermediates via oxygenate-based routes and reveals the fate of the oxygen atom in methanol conversion over zeolite catalysts.