We synthesized nitrogen (N)-doped graphene quantum dots (N-GQDs) using a top-down hydrothermal cutting approach. The concentration of N dopants was readily controlled by adjusting the concentration of the N source of urea. When N dopants were incorporated into GQDs, visible absorption was induced by C-N bonds, which created another pathway for generating photoluminescence (PL). Time-resolved PL data revealed that the carrier lifetime of GQDs was increased upon doping with the optimized N concentration. The photoelectrochemical properties of N-GQDs toward water splitting were studied, and the results showed that 2N-GQDs prepared with 2 g of urea produced the highest photocurrent. The photocatalytic activity of 2N-GQDs powder photocatalyst for hydrogen production was also examined under AM 1.5G illumination, showing substantial enhancement over that of pristine GQDs. Electrochemical impedance spectroscopy data further revealed a significant improvement in charge dynamics and reaction kinetics and an increased carrier concentration as a result of N doping.