The self-assembly of a conjugated donor−acceptor polymer can be improved by controlling the intrachain hydrogen bonding via the incorporation of urea groups in the side chains. This also enhances the power conversion efficiency of organic photovoltaic devices. Side chain engineering with urea groups directly influences the electronic assembly, the interchain packing, and the backbone configuration of the polymers. The charge generation in this next-generation donor−acceptor conjugated polymer is directly compared to that of its predecessor molecule pDPP4T without urea groups. The ultrafast charge dynamics was studied with femtosecond laser sources applying static and dynamic two-photon photoemission spectroscopy. Ultrafast spectroscopy gives insights into the charge generation process in the conjugated polymer pDPP4T-1 (diketopyrrolopyrrole (DPP) quaterthiophene) thin films on silicon. While annealing organic semiconductor thin films leads to significant improvements in charge carrier mobility and photovoltaic efficiency, the ultrafast charge generation seems to be close to unaffected on the picosecond timescale. In addition, ultrafast charge generation in blended polymer/ fullerene thin films was studied, as used in prospective organic photovoltaic devices. We suppose that long-lived transient states, which are observed in the time-resolved 2PPE measurement and persist beyond the picosecond range, are associated with the generation of charge carriers. This long-living component is increased for the blended thin film. Flash-photolysis time-resolved microwave conductivity provides deeper insight into the photoconductivity and the charge carrier lifetimes on long timescales. Matching to the photocarrier generation kinetics in time-resolved 2PPE, a one order higher photoconductivity transient is measured for the PDPP4T-1:PCBM blend compared to the pristine polymer.