Understanding　the　relation　between　phase　morphology　and　physical　processes　in　polymer　blends　is　the　key　to　the　fabrication　of　reproducible　and　reliable　polymer　optoelectronic　devices.　In　this　work,　taking　the　advantage　of　low-temperature　spectroscopy,　we　have　observed　the　on-site　generation　of　excitons　and　long-lived　charges　in　different　phase　morphology　polymer/　fullerene　blends.　Probing　at　10K,　the　photo-generated　species　are　localized　to　where　they　are　generated.　We　found　that　the　generation　of　excitons　and　long-lived　charges　is　highly　influenced　by　the　local　molecular　phase　morphology.　We　further　demonstrated　that　although　the　influence　of　phase　morphology　is　localized　to　the　place　that　excitons　and　long-lived　charges　are　generated,　this　influence　can　persist　over　sub-millisecond　timescales.　Thus,　we　believe　that　the　fate　of　excitons　and　long-lived　charges　is　determined　by　the　location　at　which　they　are　generated,　which　can　in　turn　be　controlled　precisely　by　molecular　phase　morphology.