From picosecond pump-probe and interferometric experiments, we measured the intensity-dependent absorption and refractive index changes of GaInAsP/InP waveguides whose band-gap wavelengths ranged from 1.2 to 1.41 µm. An optical loop mirror interferometer was employed to measure the refractive index change in a time domain. The temporal response of the probe in GaInAsP waveguides was shown to be instantaneous following 4 ps pump pulses. The intensity-dependent refractive index coefficient was measured to be from -0.55 ×10-12 to -3.37 ×10-12 cm2/W. Also, intensity-dependent absorption changes were compared for three types of waveguide.