Most pansharpening methods refer to the fusion of the original low-resolution multispectral (MS) and high-resolution panchromatic (PAN) images acquired simultaneously over the same area. Due to its good robustness, multiresolution analysis (MRA) has become one of the important categories of pansharpening methods. However, when only MS and PAN images acquired at different times can be provided, the fusion results from current MRA methods are often not ideal due to the failure to effectively analyze multitemporal misalignments between MS and PAN images from different times. To solve this issue, MRA pansharpening based on variation factor for MS and PAN images from different times is proposed. The MRA pansharpening based on dual-scale regression model is first established, and the variation factor is then introduced to effectively analyze the multitemporal misalignments by using the alternating direction method of multipliers (ADMM), yielding the final fusion results. Experiments with synthetic and real datasets show that the proposed method exhibits significant performance improvement compared to the traditional pansharpening methods, as well as the state-of-the-art MRA methods. Visual comparisons demonstrate that the variation factor introduces encouraging improvements in the compensation of multitemporal misalignments in ground objects and advances pansharpening applications for MS and PAN images acquired at different times.