Temperature-dependent modulation characteristics of 1.3 μm InAs/GaAs quantum dot (QD) lasers under small signals have been carefully studied at various bias currents. Based on experimental observations, it is found that the modulation bandwidth significantly increases when excited state (ES) lasing emerges at high temperature. This is attributed to additional photons emitted by ES lasing which contribute to the modulation response. A rate equation model including two discrete electron energy levels and the level of wetting layer has been used to investigate the temperature-dependent dynamic behavior of the QD lasers. Numerical investigations confirm that the significant jump for the small signal modulation response is indeed caused by ES photons. Furthermore, we identify how the electron occupation probabilities of the two discrete energy levels can influence the photon density of different states and finally the modulation rate. Both experiments and numerical analysis show that the modulation bandwidth of QD lasers at high temperature can be increased by injecting more carriers into the ES that has larger electron state degeneracy and faster carrier’s relaxation time than the ground state.