Rutile/anatase TiO2 nanocrystals with various morphologies and exposed crystal facets, have been successfully synthesized by a facile hydrothermal strategy in the absence of fluorine and organic capping surfactants. The samples were characterized by X‐ray diffraction (XRD), field emission scanning electron microscopy (FESEM), transmission electron microscopy (TEM), and high‐resolution transmission electron microscopy (HRTEM). Furthermore, the transformation mechanism, photocatalytic performances, adsorption properties, and photovoltaic performances of the anatase TiO2 nanocrystals with different morphologies and crystal facets were also investigated systematically and discussed, and compared to the Degussa P25 TiO2 nanocrystals. The results indicated that the anatase TiO2 nanospindles (pH 7.0‐T180) with dominantly exposed {010} facets exhibited the highest photocatalytic activity, adsorption property, and photovoltaic performance.