CdSe nanorods and dendritic fractals were synthesized through a novel controllable solution-phase hydrothermal method. Soluble selenite was employed to provide a highly reactive Se source in the synthesis. Both morphologies and phases of the CdSe products could be successfully controlled by choosing appropriate complexing agents to adjust the dynamics of the reaction process. Reaction temperature and Cd/Se ratio in raw materials were also important parameters influencing the morphologies and phases of the products. The phase structures, morphologies, and optical properties of the CdSe products were investigated by XRD, TEM, HRTEM, and UV-vis and photoluminescence spectroscopies. The formation mechanisms of the nanorods and fractals were investigated and discussed on the basis of the experimental results.