This review describes the application of different laser time‐resolved techniques, such as time‐resolved fluorescence, phosphorescence and laser flash photolysis, to elucidate the mechanism of drug photodegradation. The assignment of transient species based on their luminescence or absorption spectra and based on their reactivity to various quenchers is illustrated. The mathematical expressions used in fitting measured transient decays over time are also discussed. Practical situations found in the literature and relevant to drug photodegradation illustrate different examples. The importance of laser power, concentration and absorbance of the ground state, as well as other parameters intrinsic to laser techniques are discussed.