We report an experimental observation of a blue shift in then=1 heavy‐hole exciton line of In0.53Ga0.47As/InP multiple quantum wells resulting from a picosecond photoexcitation in the transparent spectral region. The temporal response of this shift follows the excitation and it is attributed to the optical Stark effect. The shift was measured to be 0.19 meV for an incident light with a photon energy 20 meV below the exciton peak and with a 10‐MW/cm2intensity.