Revealing the nature of charge excitations in strongly correlated electron systems is crucial to understanding their exotic properties. Here we use broadband ultrafast pump-probe spectroscopy in the visible range to study low-energy transitions across the Mott-Hubbard gap in the orbitally ordered insulator YVO3. Separating thermal and nonthermal contributions to the optical transients, we show that the total spectral weight of the two lowest peaks is conserved, demonstrating that both excitations correspond to the same multiplet. The pump-induced transfer of spectral weight between the two peaks reveals that the low-energy one is a Hubbard exciton, i.e., a resonance or a nearly bound state between a doublon and a holon. Finally, we speculat...