We propose a novel approach for enhancement of efficiency of polymer-based photovoltaic devices by means of a low-molar-mass liquid crystal as a dopent. The active layers of the photovoltaic cells are primarily fabricated from the conjugated polymer poly(3-octylthiophene) as well as various acceptor substances including single-wall carbon nanotubes, buckminsterfullerene and the nematic liquid crystal E7 for comparison. The current-voltage characteristics are measured in dark and under green light illumination at wavelength of 514.5 nm. The power conversion efficiency for the active layer doped with E7 is the best among all cells in the simplest monolayer cell structure. Owing to the superior miscibility and orientational order of the nematic liquid crystal, E7 molecules may have promoted a composite film with fewer defects and locally helped the macromolecules align more orderly and consequently improved the charge-carrier transport, leading to the higher photocurrent and power conversion efficiency.