A reverse cation-exchange approach for the synthesis of hollow PbSe nanospheres is successfully established. This route involves a new strategy of a stepwise, in-situ template-based evolution from spherical amorphous Se colloids to Se/Ag2Se core/shell colloids, then to hollow PbSe nanospheres. Se colloids are prepared as the initial product by utilizing the chelation of ethylenediamine to bulk Se. They are converted into Se/Ag2Se core/shell colloids through the reaction with Ag+ in ethylene glycol. During the conversion from Ag2Se shell to PbSe shell, a small amount of tributylphosphine is crucial as the capping agent. The characterization results, including XRD, SEM, TEM, HRTEM, and EDX, reveal that hollow PbSe nanospheres with polycrystalline and cubic structure are prepared. The corresponding optical band gap is calculated to be 0.56 eV. This conformation is potentially beneficial to the improvement concerning the applications of PbSe nanostructures.