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This paper presents AlphaOne (α1), a universal framework for modulating reasoning progress in large reasoning models (LRMs) at test time. α1 first introduces α moment, which represents the scaled thinking phase with a universal parameter α. Within this scaled pre-α moment phase, it dynamically schedules slow thinking transitions by modeling the insertion of reasoning transition tokens as a Bernoulli stochastic process. After the α moment, α1 deterministically terminates slow thinking with the end-of-thinking token, thereby fostering fast reasoning and efficient answer generation. This approach unifies and generalizes existing monotonic scaling methods by enabling flexible and dense slow-to-fast reasoning modulation. Extensive empirical studies on various challenging benchmarks across mathematical, coding, and scientific domains demonstrate α1's superior reasoning capability and efficiency. Anonymous project page: https://alphaone-paper.github.io/.