UV irradiation of polymeric PMMA films containing HAuCl4 followed by annealing at 60-80 degrees C forms gold nanoparticles directly within the bulk material. The kinetics of nanoparticle formation was traced by extinction spectra of nanocomposite film changes vs annealing time. We propose that UV irradiation causes HAuCl4 dissociation and thus provides a polymeric matrix with atomic gold. The presence of an oversaturated solid solution of atomic gold in the polymeric matrix leads to Au nanoparticle formation during annealing. This process can be understood as a phase transition of the first order. In this paper we apply several common kinetic models of the phase transition for describing Au nanoparticle formation inside the solid polymer matrix. We compare predictions of these models with the experimental data and show that these models cannot describe the process. We propose that the stabilization effect of the matrix on the growing gold nanoparticles is important. The simplest model introducing some probability for the transition from growing nanoparticle to the non-growing, stabilized form is suggested. It is shown that this model satisfactorily describes the experimentally observed evolution of the extinction spectrum of Au nanoparticles forming in a polymer matrix. (C) 2009 Elsevier B. V. All rights reserved.