The femtosecond optical response of noble metal nanoparticles and its conne
ction to the ultrafast electron dynamics are discussed in light of the resu
lts of high-sensitivity femtosecond pump-probe experiments. The physical or
igins of the nonlinear responses in the vicinity of the surface plasmon res
onance and interband transition threshold are analyzed using extension of t
he theoretical models used in the bulk materials. These responses contain i
nformation on the electron interaction processes (electron-electron and ele
ctron-phonon scattering) that can thus be directly investigated in the time
domain. Their size and environment dependences are discussed, and the resu
lts are compared to the ones in the bulk materials. Time-resolved technique
s also permit direct study of the vibrational modes of metal nanoparticles
and, in particular, the determination of their damping, which is a sensitiv
e probe of the nature of the surrounding matrix and of the interface qualit
y.