Heterocrystals consisting of multiple species have received wide attention owing to the advantage of the cooperative effect contributed by different functional counterparts; therefore, a controlled growth strategy is highly desired. Herein, we report an effective method to synthesize dumbbell-like Au-PtCu solid and hollow nanorods, regulated by the unique surface capping and oxidation etching roles of copper ions. Dumbbell-like nanorods are prepared through site-selective co-deposition of platinum and copper on both tips of gold nanorods assisted by the capping effect of the CTAB-Cu+ complex to passivate the side surface. On the other hand, hollow dumbbell-like Au-PtCu nanorods are formed through triggering the etching effect of copper ions by increasing the reaction temperature to 80 °C. The manipulation of the morphology and extinction properties of the trimetallic Au-PtCu nanorods is demonstrated by adjusting the concentration of copper ions. Under excitation with a near-infrared 808 nm laser, the dumbbell-like Au-PtCu nanorods show excellent photothermal conversion, with a 3.1 times temperature increment (ΔT) compared to bare Au nanorods, while the hollow dumbbell-like Au-PtCu NRs demonstrate improved photocatalytic activity under xenon lamp irradiation.