We studied the ultrafast dynamic behavior of the photoinduced insulator–metal phase transition in VO2 thin film using optical pump–terahertz probe spectroscopy with different excitation fluences and at different temperatures. We observed two processes in the insulator–metal phase transition in VO2: a fast process and a slow process. The fast process is a nonthermal process, which is ascribed to the nucleation of the metal phase, while the slow process is strongly affected by temperature and is ascribed to the thermally driven growth and coalescence of metal domains in VO2. The transient complex conductivity spectra at different delay times are also investigated.