Aromatic azo compounds have a wide range of industrial applications as dyes in optical and color-changing materials and can also be exploited in the design of new photodynamic molecular systems. The azo derivative 1-(cyclopropyl)diazo-2-naphthol was isolated in low-temperature cryogenic matrices, and its molecular structure, tautomeric equilibrium, and photochemical transformations were characterized by infrared spectroscopy and theoretical calculations. Only azo-enol forms having the OH group involved in a strong intramolecular hydrogen bond, forming a six-membered ring with the azo group, were found experimentally. Irradiation with a narrowband source in the near-UV range generates different rotameric and tautomeric azo-enol and keto-hydrazone forms that can be interconverted at different irradiation wavelengths.