In an organic semiconductor optoelectronic device, the built-in field within the active layer is typically determined by the difference in contact potentials of the device. However, the presence of space charges and trap states contribute to the electric field within the thin film. Depending on the maximum applied forward voltage, the trap states can be charged, inducing hysteresis in the optoelectronic response of the system. In this work, we investigate the electric fields inside organic photovoltaic device structures, in the presence of traps, using electroabsorption (EA) spectroscopy. Comparing simulations with our experimental results, we explained the origin of hysteresis in the electroabsorption signal as a function of applied DC bias. We solved Poisson’s equation to estimate the densities of trapped carriers in the active layers. The filled trap densities in poly(3-hexylthiophene-2,5-diyl) (P3HT) and poly[(2,5-bis(2-hexyldecyloxy)phenylene)-alt-(5,6-difluoro-4,7-di(thiophen-2-yl)benzo[c]-[1,2,5]thiadiazole)] (PPDT2FBT) were found to be ∼1×1017 and ∼6×1016 cm−3, respectively. From the transient EA measurements, the estimated values of energies of the trap states with respect to the HOMO level were 0.82 and 0.76 eV in P3HT and 0.70 and 0.64 eV in PPDT2FBT, which indicated the presence of midgap traps in these organic semiconductor thin films. Such trap induced changes in the internal fields within the active layers, affect the mobility and carrier transport in the organic optoelectronic devices. The midgap traps lead to exciton quenching and also act as non-radiative recombination centers, resulting in reduction in luminescence efficiency of the active layers.