Singlet fission (SF) is a spin-allowed process in which a photogenerated singlet exciton down-converts into two triplet excitons. Perylene-3,4-dicarboximide (PMI) has singlet and triplet state energies of 2.4 and 1.1 eV, respectively; thus making SF slightly exoergic and providing triplet excitons that have sufficient energy to raise the efficiency of single-junction solar cells by reducing thermalization losses from hot excitons formed when absorbed photons have energies higher than the semiconductor bandgap. However, PMI SF in the solid state has not been studied previously. Here, we show that 2,5-diphenyl-N-(2-ethylhexyl)perylene-3,4-dicarboximide (dp-PMI) crystallizes into a slip-stacked intermolecular morphology favorable for SF. Transient absorption microscopy and spectroscopy show that dp-PMI SF occurs in ≤50 ps in both single crystals and polycrystalline thin films with a triplet yield of 150 ± 20%. Ultrafast SF in the solid state, the high triplet yield, and its photostability make dp-PMI an attractive candidate for SF-enhanced solar cells.