To clarify the dynamics of an electron−hole (e−h) pair, which plays an important role in the performance of optoelectronic devices, the radiowave effect on photoconduction in a regioregular poly(3-hexylthiophene-2,5-diyl) film near zero magnetic field was investigated. Irradiation of the radiowaves of 1−25 MHz at zero field resulted in lower photoconduction because of a quasistatic magnetic field effect on intersystem crossing and electron spin resonance among hyperfine sublevels of the e−h pair. The recombination and dissociation rate constants of the e−h pair (10 7 s −1 ) were estimated by comparison with simulations based on the e−h pair dynamics under a perturbation treatment of the radiowave as an oscillating magnetic field using a density matrix formalism. An amplitude modulation technique of the radiowave at zero field in the frequency region <50 kHz revealed slow e−h pair formation (∼10 5 s −1 ), which is a rate-determining step for carrier recombination in the film.