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The electron spin relaxation of InGaAs/InP multiple-quantum wells (MQW) is investigated using time-resolved polarization-dependent absorption measurement. The MQW has an excitonic absorption at 1.54 μm which is suitable for application in optical communications. A theoretical prediction assuming the D’yakonov-Perel’ interaction as the main relaxation mechanism gives a spin relaxation rate for the InGaAs quantum well over twice as high as that for the GaAs quantum well. The spin relaxation time measured at room temperature is 5.2 ps and found to be an order of magnitude faster than that of a GaAs quantum well.