A method of producing a photoelectric conversion element, which the element contains an electrically conductive support, a photosensitive layer having porous semiconductor fine particles, a charge transfer layer; and a counter electrode;containing the steps of: applying a semiconductor fine particle dispersion liquid, in which the content of solids excluding semiconductor fine particles is 10% by mass or less based on the total amount of the dispersion liquid, on the support, to form a coating; heating the coating, to obtain porous semiconductor fine particles; and sensitizing the porous particles by adsorption of the following dye: wherein X represents a group of non-metallic atoms necessary for forming a 7-membered ring; Y represents a dye residue; n represents an integer of 1 or more; Z represents a substituent; m represents 0 or a positive integer; and R1 represents a hydrogen atom or a specific substituent.