We have investigated the effect of molecular adsorbates on the ultrafast electron dynamics in nanoshell particles. These nanoparticles consist of a thin gold shell surrounding a gold sulfide core. Pump-probe transmission measurements at 1.5 eV on unmodified nanoshells in aqueous solution yield an electron relaxation lifetime of similar to2.7 ps. The lifetime decreased with the adsorption of p-aminobenzoic acid (similar to1.7 ps) or aniline (similar to1.9 ps) on the nanoshells. With adsorbed p-mercaptobenzoic acid or n-propylamine, electron thermalization occurred in similar to2.4 or similar to2.8 ps, respectively. Surface-enhanced Raman signals were detected from the aromatic molecules, confirming their adsorption on the nanoshells. Density functional theory calculations indicate that the molecules providing the strongest modification of the dynamics possess the largest induced dipole moments near a metal surface. This suggests that the adsorbate-induced perturbation of the nanoshell electron dynamics is primarily electronic in nature.