Direct interband and intragap photoexcitation by intense mid-infrared (4.0 and 4.7 μm) femtosecond (fs) laser pulses was explored in ultrapure chemical-vapor deposited (CVD) diamond via acquisition of characteristic ultraviolet photoluminescence of free excitons and A-band photoluminescence of electrons anchored at deep donor–acceptor or dislocation-related traps, respectively. At lower laser intensities (<10 TW/cm2) the excitonic photoluminescence yields exhibit highly nonlinear dependences with Iλ2-scaling and power slopes N ≈ 17 (4.0 μm) and 14 (4.7 μm), still insufficient to cross over the direct bandgap (≥6.5 eV) by ≈1.2 and 2.8 eV, respectively. Similarly high slope of ≈9 (4.7 μm) for intragap (≥3.5 eV) photo-population of donor–acceptor traps is still insufficient for their direct excitation by ≈1 eV. At the intermediate Iλ2-dependent values of the Keldysh parameter γ ∼ 1 such incomplete multiphoton excitation anticipates the hybrid total “multiphoton + tunneling” photoexcitation generally predicted by the Keldysh theory, but never unambiguously experimentally demonstrated. At higher laser intensities (>10 TW/cm2) both the excitonic and A-band photoluminescence yields exhibit (sub)linear slopes, apparently, indicating formation of more strongly absorbing electron–hole plasma. These findings shed light on the hybrid multiphoton + tunneling character of Keldysh photoexcitation at intermediate values γ and pave the way to defect/impurity band engineering of intragap nonlinear optical properties in bulk dielectrics for their precise fs-laser nanomodification.