In the present work, volumetric, rheological, and thermodynamic analysis has been carried out for varied compositions of diphenyldiselenide in dimethyl sulfoxide/(5–25)% w/w of ethanol in dimethyl sulfoxide at seven distinct temperatures varying from 288.15 K to 318.15 K and ambient pressure (0.1 MPa). Through the acquired density data, the volumetric parameters such as apparent molar volume (Vϕ), limiting apparent molar volume (Voϕ), transfer molar volumes (Vϕ,tro), limiting apparent molar expansivity (Eϕo), thermal expansion coefficient (α), and Hepler’s constant (2c) were estimated. By the use of viscosity data, (viscosity A and B coefficients), viscosity B-coefficient of transfer (Btr), change in viscosity B-coefficient with temperature and thermodynamic properties (Δμ10,Δμ20, ΔH20 and TΔS20) were inferred. These parameters have aided in scrutinizing the various feasible interactions existing in the studied systems. From the explored results, we predicted that ion-hydrophillic / hydrophilic-hydrophillic interactions are predominant in the studied systems. Furthermore, through the positive sign of Hepler’s constant and negative sign of change in viscosity B-coefficient with temperature values, we have inferred that diphenyldiselenide behaves as structure maker in dimethyl sulfoxide/(5–25)% w/w of ethanol in dimethyl sulfoxide.