Ferroelectrics sometimes show large electro-optical and non-linear optical effects, available for polarization rotation and frequency conversion of light, respectively. If the amplitude of ferroelectric polarization is modulated in the picosecond time domain, terahertz repetition of optical switching via electro-optical and non-linear optical effects would be achieved. Here we show that polarization amplitude can be rapidly modulated by a terahertz electric field in an organic ferroelectric, tetrathiafulvalene-p-chloranil (TTF-CA). In this compound, alternately stacked donor (TTF) and acceptor (CA) molecules are dimerized via the spin-Peierls mechanism, and charge transfer within each dimer results in a new type of ferroelectricity called electronic-type ferroelectricity. Using a terahertz field, the intradimer charge transfer is strongly modulated, producing a subpicosecond change in the macroscopic polarization, which is demonstrated by transient reflectivity and second-harmonic generation measurements. Subsequently, coherent oscillation of the dimeric molecular displacements occur, which is explained by the modulation of the spin moment of each molecule.