The fast and slow components of global warming in a comprehensive climate model are isolated by examining the response to an instantaneous return to preindustrial forcing. The response is characterized by an initial fast exponential decay with ane-folding time smaller than 5 yr, leaving behind a remnant that evolves more slowly. The slow component is estimated to be small at present, as measured by the global mean near-surface air temperature, and, in the model examined, grows to 0.4°C by 2100 in the A1B scenario from the Special Report on Emissions Scenarios (SRES), and then to 1.4°C by 2300 if one holds radiative forcing fixed after 2100. The dominance of the fast component at present is supported by examining the response to an instantaneous doubling of CO₂ and by the excellent fit to the model’s ensemble mean twentieth-century evolution with a simple one-box model with no long times scales.