Un- and lead (Pb)-doped cadmium oxide (CdO) semiconductor nanostructures were synthesized by a sonochemical method to study their physical properties. The obtained X-ray diffraction (XRD) patterns indicated cubic CdO crystalline structures for all samples and showed that the crystallite size of CdO increases with Pb addition. Scanning electron microscopy (SEM) images of the nanostructures illustrated agglomerated oak-like particles for the Pb-doped CdO nanostructures. Furthermore, optical studies suggested that the emission band gap energy of the CdO nanostructures lies in the range of 2.27–2.38 eV and crystalline defects increase by incorporation of Pb atoms in the CdO crystalline lattice. In addition, electrical experiments declared that the n-type electrical nature of the un- and Pb-doped CdO nanostructures and the minimum of Pb atoms lead to a high carrier concentration.