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Exploring low-loss two-dimensional plasmon modes is considered central for achieving light manipulation at the nanoscale and applications in plasmonic science and technology. In this context, pump–probe spectroscopy is a powerful tool for investigating these collective modes and the corresponding energy transfer processes. Here, I present a first-principles study on non-equilibrium Dirac plasmon in graphene, wherein damping channels under ultrafast conditions are still not fully explored. The laser-induced blueshift of plasmon energy is explained in terms of thermal increase of the electron–hole pair concentration in the intraband channel. Interestingly, while damping pathways of the equilibrium graphene plasmon are entirely ruled by scatterings with acoustic phonons, the photoinduced plasmon predominantly transfers its energy to the strongly coupled hot optical phonons, which explains the experimentally-observed tenfold increase of the plasmon linewidth. The present study paves the way for an in-depth theoretical comprehension of plasmon temporal dynamics in novel two-dimensional systems and heterostructures.