Ultrafast transient absorption spectroscopy is applied to study the photoinduced processes of inorganic–organic CdSe quantum dot–alizarin hybrid complexes. The formation of a pronounced transient bleaching of the quantum dot excitonic transitions after selective photoexcitation of the surface-bound alizarin indicates an electron transfer from the alizarin excited state to the quantum dot 1S(e) state. An electron transfer time of 19 ps is determined, which is independent of the alizarin concentration. A derivative-like spectral signature immediately after photoexcitation of the alizarin is explained by an excitation-induced level shifting of the QD electronic transitions. Our study demonstrates that the bleaching of the quantum dot excitonic transitions can be used to evaluate the charge transfer dynamics in the investigated hybrid complexes.