Hematoporphyrin derivative (HpD) is a complex mixture of monoporphyrinic compounds, including hematoporphyrin, and oligomers containing up to eight porphyrin units. In methanol a sensitizer concentration-independent quantum yield of 0.64 is measured for the HpD-induced production of singlet molecular oxygen O2 (1Delta(g)). This finding is consistent with the dye components remaining unassociated in this solvent. In water pH 7.4 HpD consists of a complex mixture of non-aggregated and self- and cross-aggregated monoporphyrinic and oligomeric species, and the quantum yield of O2 (1Delta(g)) formation decreases significantly with increasing HpD concentration due to the lower quantum yield of aggregates. These variations can be quantitatively described in terms of a monomer-dimer equilibrium, with quantum yields of 0.64 and 0.11, respectively, for monomers and dimers. The yields of unassociated species are identical in methanol and water.