<jats:p>Over the past two decades (EDO-TTF)2PF6 (EDO-TTF = 4,5-ethylenedioxytetrathiafulvalene), which exhibits a metal–insulator (M–I) phase transition with charge–ordering (CO), has been investigated energetically because of attractive characteristics that include ultrafast and massive photoinduced spectral and structural changes. In contrast, while its crystal structure has much in common with the (EDO-TTF)2PF6 crystal, the organic alloy system of [(EDO-TTF)0.89(MeEDO-TTF)0.11]2PF6 (MeEDO-TTF = 4,5-ethylenedioxy-4′-methyltetrathiafulvalene) exhibits a quite different type of M–I phase transition that is attributed to Peierls instability. Here, an optical study of the static absorption spectra and the time-resolved changes in the absorption spectra of [(EDO-TTF)0.89(MeEDO-TTF)0.11]2PF6 are reported. The observed absorption spectra related to the electronic structure are highly anisotropic. With a reduction in temperature (T), the opening of a small optical gap and a small shift in the center frequency of the C=C stretching mode are observed along with the M–I phase transition. Additionally, photoinduced transient states have been assigned based on their relaxation processes and transient intramolecular vibrational spectra. Reflecting small valence and structural changes and weak donor–anion interactions, a photoinduced transient state that is similar to the thermal-equilibrium high-T metallic phase appears more rapidly in the alloy system than that in (EDO-TTF)2PF6.</jats:p>