Increasing energy demands and environmental crisis has urged the researchers to find a clean energy technology to overcome the energy issues of our planet earth. The photovoltaic conversion of solar energy to electrical energy paves a way to utilize the clean and inexhaustible source of energy. Perovskite materials have proved themselves as a potential absorbers materials giving efficiency upto 25%. This chapter discusses about the multiferroic-based oxide perovskite materials to be used as the absorber materials. These materials on the basis of non-centrosymmetry and polarization have proved themselves to be a lead free, toxicity less source of absorber material. It also emphasizes on the fact that doping of the conventional multiferroics plays a very crucial role in enhancing the PCE of multiferroic-based perovskite solar cells (MPSCs). The photovoltaic properties of the MPSCs are majorly governed by the bulk photovoltaic (BPV) effect not by the p–n junction process. Several models based on the BPV are described in the chapter which gives a clear insight of the photovoltaic properties and factors affecting PCE of the multiferroic-based solar cells.