We have studied the effect of silicon nanocrystals (SiNCs) as a third component on performance of organic bulk heterojunction solar cells composed of poly[2-methoxy,5-(2'-ethylhexyloxy)-1,4-phenylene vinylene] (MEH-PPV):[6,6]-phenyl-C61-butyric acid methyl ester (PCBM) blend film. By adding suitable amounts of SiNCs into MEH-PPV:PCBM blend, the device performance such as external quantum efficiency, short circuit current density (J SC ), and power conversion efficiency (PCE) improved. Incorporation of 2.5% SiNCs in the blend led to 13.6% improvement of J SC , which in turn resulted in 18% improvement of PCE up to 2.28%. The improved performance was mainly due to the improvements both in the charge generation from the interface of MEH-PPV/SiNCs and the charge collection at the cathode.