CdTe core-shell semiconductor quantum dots are being widely explored due to their special nonlinear optics and ultrafast dynamics characteristics that include solar cells, optoelectronic devices, biological labeling, and optics fiber sensing fields. In this work, the six kinds of CdTe/CdS core-shell quantum dots were researched in the different core sizes and shell thicknesses for the nonlinear optics and ultrafast dynamics characteristics. The nonlinear absorption and refraction coefficients of the samples were measured by using Z-scan technology under the action of 400 nm wavelength and 130 fs laser pulse width. The experimental results show that the shell thickness of CdTe/CdS core-shell quantum dots affects the nonlinear absorption and refraction characteristics, in which the nonlinear absorption and refraction coefficients increase with the shell thickness. And the core size mainly affects the nonlinear absorption characteristics, while the nonlinear absorption coefficient decreases with the increase of the core size. At the same time, femtosecond time-resolved transient absorption spectroscopy technology was used to measure the ultrafast dynamics characteristics of the samples under the conditions of 400 nm wavelength, 130 fs pulse width, 1 kHz frequency, and 400 nJ single-pulse energy. The transient absorption spectra and ultrafast dynamics curves were obtained. The results suggest that the rising time of bleaching signal increases with the shell thickness. The decay time of the fast process increases with the shell thickness and core size. The decay time of the slow process increases with the shell thickness. The research reveals the influence of the core size and shell thickness of CdTe core-shell quantum dots on the nonlinear optics and ultrafast dynamics, providing a theoretical basis for the preparation of core-shell quantum dots and the research of the photophysical properties.