Heart rate variability (HRV) is commonly used to assess autonomic functions and responses to environmental stimuli. It is usually derived from electrocardiographic signals; however, in the last few years, photoplethysmography has been successfully used to evaluate beat-to-beat time intervals and to assess changes in the human heart rate under several conditions. The present work describes a simple design of a photoplethysmograph, using a wearable earlobe sensor. Beat-to-beat time intervals were evaluated as the time between subsequent pulses, thus generating a signal representative of heart rate variability, which was compared to RR intervals from classic electrocardiography. Twenty-minute pulse photoplethysmography and ECG recordings were taken simultaneously from 10 healthy individuals. Ten additional subjects were recorded for 24 h. Comparisons were made of raw signals and on time-domain and frequency-domain HRV parameters. There were small differences between the inter-beat intervals evaluated with the two techniques. The current findings suggest that our wearable earlobe pulse photoplethysmograph may be suitable for short and long-term home measuring and monitoring of HRV parameters.