The title unknown reaction is theoretically studied at various levels to probe the interaction mechanism between the ethynyl radical (HC triple bond C) and formaldehyde (H(2)C double bond O). The most feasible pathway is a barrier-free direct H-abstraction process leading to acetylene and formyl radical (C(2)H(2)+HCO) via a weakly bound complex, and then the product can take secondary dissociation to the final product C(2)H(2)+CO+H. The C-addition channel leading to propynal plus H-atom (HCCCHO+H) has the barrier of only 3.6, 2.9, and 2.1 kcal/mol at the CCSD(T)/6-311+G(3df,2p)MP2//6-311G(d,p)+ZPVE, CCSD(T)/6-311+G(3df,2p)//QCISD/6-311G(d,p)+ZPVE, and G3//MP2 levels, respectively [CCSD(T)--coupled cluster with single, double, and triple excitations; ZPVE--zero-point vibrational energy; QCISD--quadratic configuration interaction with single and double excitations; G3//MP2-Gaussian-3 based on Moller-Plesset geometry]. The O addition also leading to propynal plus H atom needs to overcome a higher barrier of 5.3, 8.7, and 3.0 kcalmol at the three corresponding levels. The title no-barrier reaction presents a new efficient route to remove the pollutant H(2)CO, and should be included in the combustion models of hydrocarbons. It may also represent the fastest radical-H(2)CO reaction among the available theoretical data. Moreover, it could play an important role in the interstellar chemistry where the zero- or minute-barrier reactions are generally favored. Discussions are also made on the possible formation of the intriguing propynal in space via the title reaction on ice surface.