Efficient photocatalytic conversion of CO2 into CO and hydrocarbons by hydrous hydrazine (N2H4⋅H2O) is achieved on SrTiO3/TiO2 coaxial nanotube arrays loaded with Au–Cu bimetallic alloy nanoparticles. The synergetic catalytic effect by the Au–Cu alloy nanoparticles and the fast electron-transfer in SrTiO3/TiO2 coaxial nanoarchitecture are the main reasons for the efficiency, while N2H4⋅H2O as the H source and electron donor provides a reducing atmosphere to protect the surface Cu atoms from oxidation, therefore maintaining the alloying effect which is the basis for the high photocatalytic activity and stability. This approach opens a feasible route to enhance the photocatalytic efficiency, which also benefits the development of photocatalysts and co-catalysts.