An instrument for time‐resolved spectroscopy with an effective time resolution capability of 2×10−7sec has been built using a pulsed photomultiplier and the stroboscopic time resolution technique. Because of the higher voltages allowable in pulsed operation, the photomultiplier gain is found to be increased by more than two orders of magnitude and the dark current is reduced by a factor of about five. Therefore, the apparatus is very useful for analyzing weak fluorescence and absorption spectra of microsecond duration. Fluorescence rise and decay times of fractions of a microsecond have also been measured. The instrument was found to be very suitable for analyzing the fluorescence properties of rare‐earth chelate laser materials.