In this study, a novel ternary hematite nanocomposites photoanode structure with superior photoelectrochemical (PEC) performance consisting of fullerene (C60) and 2D‐electrochemical reduced graphene oxide (eRGO) used as the effective surface passivators is developed. The introduction of both the electron scavenging C60 and highly conducting eRGO has mitigated the high interfacial recombination rate of hematite and led to the superior enhancement in PEC performance. UV–vis analysis reveals that the incorporation of C60 and eRGO can provide a stronger light absorption at the visible light (400 nm < λ < 700 nm) and near infrared (IR) region (λ > 700 nm). Through the electrochemical impedance spectroscopy measurements, it can be concluded that the introduction of C60 and eRGO onto hematite photoanode improves electron transfer and collection, reduces charge‐carrier recombination efficiency, and enhances PEC activity. The resultant ternary hematite photoanode structure exhibits 16.8‐fold enhancement in photocurrent density and 0.8‐fold reduction in charge transfer resistance when compared to the bare hematite structure only. This study has shown that the application of C60, 2D‐eRGO, or in combination as a ternary structure provides the plasmonic effect that can enhance the PEC performance in hematite photoanode structure.