Time-resolved optical emission analysis was carried out for the plasma plume, produced by high-power tunable IR CO2 pulsed laser ablation of graphite, at λ=10.591 μm and in a regime of relatively high laser fluences (123–402 J/cm2). Wavelength-dispersed spectra of the plasma plume, at medium-vacuum conditions (4 Pa) and at 9.0 mm from the target, show ionized species (C+, C2+, C3+, C4+, N2+ , N+, and O+), neutral atoms (C, H, N, and O), and neutral diatomic molecules (C2, CN, OH, CH, and N2). In this work, we focus our attention on the temporal evolution of different atomic/ionic and molecular species over a broad spectral range from 190 to 1000 nm. The results show a faster decay for ionic fragments than for neutral atomic and molecular species. The velocity and kinetic energy distributions for different species were obtained from time-of-flight measurements using time-resolved optical emission spectroscopy. Possible mechanisms for the production of these distributions are discussed. Excitation temperature, electron density, and vibrational temperature in the laser-induced plasma were estimated from the analysis of spectral data at various times from the laser pulse incidence.