The self modulation of absorption of a picosecond light pulse was observed earlier [1] in a thin (~1 μm thick) GaAs layer pumped by a high power picosecond pulse. Analysis of the characteristics of this self modulation predicted [5] that the dependences of the probe pulse absorption on the pump pulse energy and picosecond delay between pump and probe pulses should be self modulated by oscillations. Such self modulation was experimentally observed in this work. Under certain conditions, absorption oscillations proved to be a function of part of the energy of picosecond stimulated emission of GaAs lying above a certain threshold in the region where the emission front overlapped the probe pulse front. Absorption oscillations are similar to self modulation of the GaAs emission characteristics observed earlier [4]. This suggests that the self modulation of absorption and emission is determined by the same type of interaction of light pulses in the active medium, the physical mechanism of which has yet to be determined.