I am reading the tokenization product security guidelines of PCI-DSS but I do not see the time of expiration of the token. Does it have it?
Yes tokenisation does expire, either by date, or by the payment provider invalidating it.
Credit card expiry is usually set for each token and has a pre-set expiry date of 48 months in the case of MasterCard (although payment providers can adjust this), which is a sliding scale and reset during each token use. The token is unique to the card number not the transaction.
It should also be obvious that a card that expires (expiry date met) within that time will naturally expire therefore before tokenisation expiry.
While I know the OP didn't ask, to help others with tokenisation I have added the below for fullness:
The Tokenisation Process
The token is created by the payment provider (the company actually taking the payment) and returned to the merchant (e.g. could be the online shop). The merchant stores this token and replays it back to the payment provider as proof they are allowed to process money on behalf of that card. The payment provider stores the original PAN number (card number) and will only accept the token from authorised calls to use it. The payment provider may well have the PAN stored within a valut that can only be accessed (decrypted) using the authorised users password (e.g. could be an API key). This mitigates an attacker stealing the token and being able to use it. The payment provider can also invalidate the token from their end at any point.
More details here: http://www.mastercard.com/gateway/implementation_guides/Tokenization.html