Combined density functional theory and multireference configuration interaction methods including spin−orbit interactions have been employed to investigate the photophysical properties and deactivation pathways of a zinc diimine dithiolate complex involving the phenanthroline derivative bathocuproine and the dianionic dithiosquarate as chelating ligands. Zn(batho)(dtsq) is one of the few luminescent zinc complexes for which triplet emission had been reported in the solid state [Gronlund, P. et al. Inorg. Chim. Acta 1995, 234, 13−18]. Because of the high dipole moment of the complex in the electronic ground state, ligand-toligand charge-transfer (LLCT) states experience strong hypsochromic shifts in polar media, while ligand-centered (LC) states are nearly unaffected. Rate constants for the thermally activated upconversion of the T LLCT population to the S LLCT state are promising due to a small singlet−triplet energy gap and the participation of the sulfur in the electronic excitation, but the T LLCT state is not the lowest-lying excited triplet state in ethanol solution. In addition to the T LLCT electronic structure, T LC(batho) ′ and T LC(dtsq) ππ* excitations form minima on the T 1 potential energy surface. The S LLCT luminescence is expected to be quenched at the nanosecond time scale by the dark T LC(dtsq) ππ* state. Moreover, a T LC(dtsq) σπ* state has been identified, which leads to degradation of the compound. In mildly polar media, the dark triplet LC states are energetically inaccessible and the lowest excited singlet and triplet states clearly exhibit an LLCT character. However, their mutual spin−orbit coupling is reduced to the extent that reverse intersystem crossing is not very likely at room temperature. While Zn(diimine)(dithiolate) complexes continue to be perceived as an interesting substance class with potential application as emitters in electroluminescent devices, the particular Zn(batho)(dtsq) complex is not considered suitable for that purpose.