AbstractAs a fundamental physical process in the ionosphere, photoionization and the associated photoelectrons play vital roles in determining the ionospheric electron density and temperature for Earth and other planets with atmospheres such as Mars and Venus. The production and transport of ionospheric photoelectrons have been widely examined on Earth, but relatively less studied for other terrestrial planets, such as Mars and Venus. In this study, a two‐stream photoelectron transport model for Mars and Venus is constructed, in which the photoelectron fluxes, photoelectron heating rates, primary and secondary ionization rates are calculated. The simulated photoelectron fluxes agree with Mars Atmosphere and Volatile Evolution (MAVEN) observations at various altitudes, with the input of solar spectrum irradiance, electron density and temperature, neutral density and temperature observed by MAVEN. Moreover, by parametrically fitting the simulation results for various solar zenith angles and solar activities, we obtain empirical parameterized formulas for ionization and heating efficiencies which can potentially be adapted to planetary ionospheric models for the community.