Time-resolved terahertz spectroscopy is used for investigation of photoinduced charge carrier dynamics in blends of a polyfluorene copolymer (poly[2,7-(9,9-dioctyl-fluorene)-alt-5,5-(4',7'-di-2-thienyl- 2',1',3-benzo-thiadiazole)]) and an electron acceptor ([6,6]-phenyl-C61-butyric acid methyl ester). The transient far-infrared response appears instantaneously after photoexcitation. We show that the transient conductivity spectrum is dominated by two major contributions: response of separated charge carriers and response of coupled polaron pairs. © 2008 American Chemical Society.