Photoelectrical and photoluminescent properties of multilayer graphene (MLG)–quantum dots (QD) hybrid structures have been studied. It has been shown that the average rate of transfer from QDs to the MLG can be estimated via photoinduced processes on the QDs’ surfaces. A monolayer of CdSe QDs can double the photoresponse amplitude of multilayer graphene, without influencing its characteristic photoresponse time. It has been found that efficient charge or energy transfer from QDs to MLG with a rate higher than 3 × 108 s−1 strongly inhibits photoinduced processes on the QD surfaces and provides photostability for QD-based structures.