Quantitative information on the mechanisms and rates of hole (radical cation)-induced quenching of triplet and singlet excitons in the conjugated polymer poly[2-methoxy-5-(2′-ethylhexyloxy)-p-phenylene vinylene] has been acquired by a new technique, fluorescence-voltage time-resolved single molecule spectroscopy (FV-TR-SMS). FV-TR-SMS measures the fluorescence intensity of a single conjugated polymer molecule that is embedded in a capacitor-like device while simultaneously modulating the bias on the device and the irradiation intensity. The results demonstrate that triplet excitons are efficiently quenched by holes in conjugated polymers for hole densities >1016 charges/cm3, while singlet excitons are quenched with a much lower efficiency. Detailed kinetic analysis shows that the greater efficiency for quenching of triplets by holes (compared to that for singlets) is due to a >106 times longer exciton lifetime for triplets. In fact, the results suggest that while singlet quenching is less efficient due to a much shorter singlet lifetime, the rate constant for the quenching of singlets by holes actually exceeds that for triplets by several orders of magnitude.