The principles of ps transient grating spectroscopy are presented. The capabilities of this technique for the study of photoinduced processes are illustrated by several new results. These include the observation of an anomalous effect in the reorientation dynamics of two ionic dyes in long-chain alkanenitriles, the measurement of the local viscosity in the interior of reverse micelles containing methanol, and the determination of the rate constant of separation of a geminate radical pair formed by photoinduced electron-transfer reaction.