By employing graphene quantum dots (GQDs), we have achieved a high efficiency of 16.55% in n-type Si heterojunction solar cells. The efficiency enhancement is based on the photon downconversion phenomenon of GQDs to make more photons absorbed in the depletion region for effective carrier separation, leading to the enhanced photovoltaic effect. The short circuit current and the fill factor are increased from 35.31 to 37.47 mA/cm(2) and 70.29% to 72.51%, respectively. The work demonstrated here holds the promise for incorporating graphene-based materials in commercially available solar devices for developing ultrahigh efficiency photovoltaic cells in the future.