Carrier dynamics in Er,O-codoped GaAs (GaAs:Er,O) have been systematically investigated by means of a pump and probe reflection technique with a mode-locked Ti:sapphire laser. In GaAs:Er,O, it has been found that the codoping produces a single atom configuration (Er-20 configuration) as an Er atom located at the Ga sublattice with two adjacent O atoms together with two As atoms, resulting in extremely strong Er luminescence. Time-resolved reflectivity of GaAs:Er,O exhibited an abrupt increase in amplitude, followed by a steep decrease to negative in less than 1 ps and then a gradual increase in approximately 100 ps. The steep decrease is due to bandgap renormalization. The gradual increase in reflectivity depended strongly on Er concentration, indicating that a trap induced by Er and O codoping plays an important role in dynamics of nonequilibrium carriers in GaAs:Er,O.