The photophysical properties of a series of 9,9′-dioctylfluorene copolymers containing 1,3,4-oxadiazole units (PF 1 Ox, PF 2 Ox, PF 3 Ox, and PF 4 Ox) as well as a copolymer containing 9,9-dioctylfluorene, 1,3,4-oxadiazole, and N-octylcarbazole (PFOxCz) have been characterized by fluorescence and time-resolved absorption spectroscopy. It was observed that the photophysical data of PF 2 Ox, PF 3 Ox, and PF 4 Ox were almost coincident (λ em ) 426 nm, φ fl ) 0.38) and somewhat different from those of PF 1 Ox (λ em ) 404 nm, φ fl ) 0.34) and PFOxCz (λ em ) 472 nm, φ fl ) 0.39). These differences are attributed to the influence of the largest Ox percentage in the polymer (PF 1 Ox) or to the presence of a strong electron-donor carbazole unit (PFOxCz). In transient absorption spectroscopy the presence of triplet excitons (λ ) 350 and 740 nm, quenched by oxygen), positive polarons (λ ) 400 and 530 nm, quenched by triethylamine), and photoeject electrons (absorption onset 800 nm, quenched by oxygen) was observed for PF n Ox (n ) 1, 2, 3, 4) with a similar quantum yield for photoejected electrons. PFOxCz exhibits differences in the transient spectrum due to the present carbazole, the polaron absorption maximum appearing at 460 nm and exhibiting a higher efficiency of photoejected electron. Overall the photophysical data obtained indicate that the behavior of PF 1 Ox and PFOxCz is somewhat different from that of the rest of the fluorene copolymer series (PF 2 Ox, PF 3 Ox, and PF 4 Ox) that exhibit almost coincident properties.