Dry plasma reduction (DPR) is an excellent approach for easy synthesis of PtPd alloys with different sizes, shapes (nanoparticles, nanorods, microrods, etc.), and distributions on fluorine-doped tin oxide (FTO) substrates through simply controlling the volume ratio of the Pt and Pd precursor solution under atmospheric pressure near room temperature. These alloys are optimized for use in highly efficient counter electrodes (CEs) of dye-sensitized solar cells (DSCs). In order to combine both high conductivity and ultrahigh catalytic activity in the regeneration of iodide ions from triiodide ions, seven different CEs are prepared through the immobilization of Pt, Pd, and PtPd alloys from solutions with different volume ratios of Pt to Pd precursors (1:0, 0.9:0.1, 0.7:0.3, 0.5:0.5, 0.3:0.7, 0.1:0.9, and 0:1) on the surface of fluorine-doped tin oxide (FTO) substrates via DPR. Dye-sensitized solar cells (DSCs) utilizing a bimetallic Pt0.5Pd0.5 nanorod counter electrode exhibit better performance than those of DSCs fabricated with Pt and Pd electrodes. The obtained results establish a foundation for the use of PtPd alloy CEs as well as the economic utility of Pt in efficient and low-cost DSCs.