As an alternative to platinum (Pt), hybrid electrocatalysts based on sulfur‐doped graphene with FeS2 microspheres (SGN‐FeS2) were used as a counter electrode (CE) in dye‐sensitized solar cells (DSSCs). Benefiting from the high conductivity of SGN and excellent electrocatalytic activity of the FeS2, the bifunctional hybrid electrocatalyst‐based device displays a power conversion efficiency (PCE) of 8.1%, which is comparable to that (8.3%) of traditional Pt CE‐based DSSC, while also exhibiting excellent stability in ambient conditions. These characteristics, in addition to its low‐cost and facile preparation, make the SGN–FeS2 hybrid an ideal CE material for DSSCs.