The combination of III–V compound semiconductor materials and organic semiconductor materials to construct hybrid solar cells is a potential pathway to resolve the problems of conventional doped p–n junction solar cells, such as complexities in fabrication process and high costs. This review presents the recent progress of organic–inorganic hybrid solar cells based on polymers and III–V semiconductors, from materials to devices. The available growth process for planar/nanostructured III–V semiconductor materials, along with patterning and etching processes for nanostructured materials, are reviewed. As an emphasis of this review, advanced device structure designs are reviewed for facilitation of carrier collection and high efficiency, at planar structure level and nanowire structure level, respectively. Optimization pathways for efficiency enhancement are discussed with respect to polymer layers and surface/interface passivation, respectively. Finally, perspectives on the future development of such hybrid cells are presented.