Inorganic nanomaterials, (e.g. quantum dots, nanowires and nanorods) because of their interesting optical and electrical properties, could be used in optoelectronics.Furthermore, the optical and electronic properties of nanomaterials which depend on their size and shape can be tuned via synthetic techniques. There are the possibilities to use those materials in organic material based optoelectronic devices such as Organic solar cells, OLEDs etc. The operating principles of such devices are governed by photoinduced processes like electron transfer and energy transfer. The performance of the devices depends on the efficiency of the photoinduced process responsible for their functioning. Therefore, better understanding of those photoinduced processes in organic/inorganic nanomaterial composite systems is necessary in order to use them in organic optoelectronic devices.