The Special Issue is intended to collect articles on the ultrafast photophysical and dynamical properties of different types of nanocomposite and nanostructured materials and their applications, including: semiconductors with various morphologies such as nanowires, 2D materials, carbon-based materials, multilayer systems, thin films, photonic crystals, metallic and non-metallic plasmonic materials, highly doped semiconductors, transparent conductive oxides, hybrid perovskite materials, organic polymeric materials, organic blends, topological insulators and self-assembled systems. Studies of the photoinduced ultrafast dynamics in hybrid systems which combine two or more of the above materials are particularly welcome, without excluding nanostructured materials in general. The aim of this Special Issue is to provide a showcase for articles that show the interplay between photoinduced ultrafast dynamics and relevant operating parameters of nanocomposite materials, indicating a route to optimize their photophysical properties and therefore the efficiency of the devices containing them. The EFSL staff invite all of you to submit your manuscripts and contribute to the success of this Special Issue!