Recent advance in nanotechnology leads to develop a variety of metal chalcogenide quantum dots (QDs) such as binary metal chalcogenides QDs and alloyed QDs. The average diameter of the QDs lies in the range of 2 to 10 nm which contains almost 10 to 1000 atoms. Due to the quantum confinement effect, size-dependent photoemission characteristics, photo-optical and photovoltaic properties, QDs have a wide variety of applications. It has attracted more attention in light-emitting diodes, medicines, quantum computers and energy devices. As an important part of quantum dot sensitized solar cells (QDSCs), QDs play an eminent role to improve photoconversion efficiency (PCE). This review article mainly focuses on the influence of metal chalcogenides QDs on the photovoltaic performance of liquid junction QDSCs, including parts and working principle of QDSC, photovoltaic parameters of QDSC, types of metal chalcogenide QDs, synthesis methods of metal chalcogenide QDs, optoelectronic properties of metal chalcogenide QDs, efficient deposition method of metal chalcogenide QDs sensitizer and its photovoltaic performance. We finally made conclusions and suggestions for future research to improve the PCE. This article will give more information about the variety of QDs and it is helpful to the researchers for making efficient QDSCs.