The near-infrared transmission of a semiconductor multiple quantum well is probed under intense terahertz illumination. We observe clear evidence of the intraexcitonic Autler-Townes effect when the terahertz beam is tuned near the 1s-2p transition of the heavy-hole exciton. The strongly coupled effective two-level system has been driven with terahertz field strengths of up to 10 kV/cm resulting in a Rabi energy of ≈0.6 times the transition energy. The induced near-infrared spectral changes at low intensities are qualitatively explained using a basic two-level model.