In this Chapter we describe the experimental studies of ultrafast carrier dynamics and all-optical switching in semiconductor quantum dots (QDs) using ultrafast terahertz (THz) techniques. In the first part of this chapter we describe the studies of carrier capture into the QDs, and thermionic carrier release from the QDs with (sub-)picosecond time resolution, using optical pump–THz probe measurements. In the second part of this chapter we investigate the direct manipulation of the quantum confinement potential of the QDs by an electric field of a strong THz pulse. The resulting THz-driven quantum-confined Stark effect leads to a strong modulation of a ground-state optical absorption in the QDs. Dynamically, such a THz-induced electro-absorption modulation in QDs (near-)instantaneously follows the absolute value of the electric field of the THz pulse, providing the capability for Tbit/s—rate all-optical switching in QDs using THz signals. The principles of experimental techniques used in our studies: optical pump–THz probe, and THz pump–optical probe spectroscopies, and strong-field THz generation, are also described in this chapter.