Oleic acid (OA) modified zinc-blende cadmium selenium nanocrystals (NCs) with different diameters, 3-5 nm, have been prepared. We find that the morphology and fluorescent properties of the samples are related to the preparation conditions such as the chain-length and concentration of the cadmium precursor as well as the concentration of OA. The hybrid solar cells based on the obtained spherical CdSe NCs as an acceptor and Poly(2-methoxy-5-(2'-ethylhexoxy)-p-phenylenevinylene) (MEH-PPV) as a donor show an energy conversion efficiency (ECE) as high as 0.85%, three times higher than that reported before for spherical CdSe NCs/conjugated polymer hybrid solar cells. When poly(3-hexylthiophene) (P3HT) is used as the donor phase instead of MEH-PPV, the energy conversion efficiency increases up to 1.08%. The solar cell based on CdSe NCs/conjugated polymer has the potential to open up new production technologies for hybrid solar cells based on semiconductor NCs.