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By applying an approach based on time-dependent density functional theory and dynamical mean-field theory (TDDFT+DMFT) we examine the role of electron correlations in the ultrafast breakdown of the insulating M 1 phase in bulk VO 2 . We consider the case of a spatially homogeneous ultrafast (femtosecond) laser pulse perturbation and present the dynamics of the melting of the insulating state, in particular the time-dependence of the excited charge density. The time-dependence of the chemical potential of the excited electron and hole subsystems shows that even for such short times the dynamics of the system is significantly affected by memory effects-the time-resolved electron-electron interactions. The results pave the way for obtaining a microscopic understanding of the ultrafast dynamics of strongly-correlated materials.