A new class of hybrids with the unique electrocatalytic nanoarchitecture of FeS anchored on FeC-encapsulated and N-doped carbon nanotubes (FeS/FeC-NCNTs) is innovatively synthesized through a facile one-step carbonization-sulfurization strategy. The efficient synthetic protocols on phase structure evolution and dynamic decomposition behavior enable the production of the FeS/FeC-NCNT hybrid with advanced structural and electronic properties, in which the Fe vacancy-contained FeS showed the 3d metallic state electrons and an electroactive Fe in +2/+3 valence, and the electronic structure of the CNT was effectively modulated by the incorporated FeC and N, with the work function decreased from 4.85 to 4.63 eV. The meticulous structural, electronic, and compositional control unveils the unusual synergetic catalytic properties for the FeS/FeC-NCNT hybrid when developed as counter electrodes (CEs) for dye-sensitized solar cells (DSSCs), in which the FeC- and N-incorporated CNTs with reduced work function and increased charge density provide a highway for electron transport and facilitate the electron migration from FeC-NCNTs to ultrahigh active FeS with the electron-donating effect, and the Fe vacancy-enriched FeS nanoparticles exhibit ultrahigh I adsorption and charge-transfer ability. As a consequence, the DSSC based on the FeS/FeC-NCNT CE delivers a high power conversion efficiency of 8.67% and good long-term stability with a remnant efficiency of 8.00% after 168 h of illumination, superior to those of traditional Pt. Furthermore, the possible catalytic mechanism toward I reduction is creatively proposed based on the structure-activity correlation. In this work, the structure engineering, electronic modulation, and composition control opens up new possibilities in constructing the novel electrocatalytic nanoarchitecture for highly efficient CEs in DSSCs.