The influence of overstoichiometric Cd i atoms on the optical properties of cadmium iodide layered crystals has been investigated. The results of optical absorption, luminescence, and luminescence excitation studies of CdI 2 crystals with controlled deviation from stoichiometric composition allow observing correlations between the Cd i concentration and features in absorption and emission spectra up to concentrations of 10 18 cm −3. At higher concentrations the overstoichiometric cadmium atoms form clusters, which were observed using scanning electron microscopy. The extinction spectra of (CdI i) n clusters are calculated in the frame of Mie theory and are found to correlate with the optical studies.