We report on the time-resolved measurements of photocarrier dynamics in InGaAs/InAlAs superlattices with epitaxial stresses in a wide range of optical pump fluences. We demonstrated that the contribution of free carrier absorption and two-photon absorption to the carrier dynamics decreases with an increase of epitaxial stresses. The lowest relaxation times of 1.7 and 8.3 ps, respectively attributed to carrier trapping and carrier recombination, were obtained for the structure with maximum epitaxial stresses.