UV-Vis absorption of colloidal cadmium sulfide quantum dots (QDs) synthesized by an aqueous synthesis in a gelatin matrix was investigated. Using the dipole approximation, taking into account the Coulomb interaction between the electron and hole in a QD and the polarization effects on the spherical boundary of QD and matrix, it was found the change of selection rules for optical transitions. It is shown that the optical absorption edge of QDs is formed by two optical transitions of electron between low-excited levels of size quantization of heavy hole ( and ), located in QDs valence band and fundamental size-quantized states of conduction band. These transitions are identical in intensity. Estimations of average values of CdS QDs radius were realized using the developed formalism for UV-Vis absorption spectra. These data were compared with experimental values of this parameter, obtained using transmission electron microscope.