In recent years, several strategies have been proposed and demonstrated to enhance the efficiency of organic light-emitting diodes (OLEDs) and organic photovoltaics (OPVs). In both types of devices, poly(3,4-ethylenedioxythiophene):poly(styrene sulfonate) (PEDOT:PSS) is commonly used to enhance hole injection. The layer is further designed by incorporating metallic-based, carbon-based, organic, inorganic, and hybrid nanoparticles with the aim of improving the performance and hence the efficiency through the improvement of light out-coupling in OLEDs and enhancement in light absorption generation of hole-charge carriers in OPVs. This review elucidates the use of different types of nanoparticles that are doped into PEDOT:PSS and their effects on OLEDs or OPVs. The effects include surface plasmon resonance (SPR), scattering, better charge transport, improvement in surface morphology and electrical properties of PEDOT:PSS. Promising results have been obtained and can potentially lead to low cost, large-area manufacturing process.