A quantum Monte Carlo calculation of the dynamical spin susceptibility in the half-filled 2D Hubbard model is presented for temperature T = 0.2t and an intermediate on-site repulsion U = 4t. Using the singular-value decomposition technique we succeed in analytically continuing the Matsubara Green's function into the real-frequency domain and in deriving the spectral representation for longitudinal and transverse spin susceptibility. The simulation results, while contradicting the random-phase approximation prediction of antiferromagnetic long-range order at this temperature, are in agreement with an extension of the self-consistent renormalization approach of Moriya. The static susceptibility calculated using this technique is qualitatively consistent with the simulation results.