Combining the electronic properties of graphene(1,2) and molybdenum disulphide (MoS2)(3-6) in hybrid heterostructures offers the possibility to create devices with various functionalities. Electronic logic and memory devices have already been constructed from graphene-MoS2 hybrids(7,8), but they do not make use of the photosensitivity of MoS2, which arises from its optical-range bandgap(9). Here, we demonstrate that graphene-on-MoS2 binary heterostructures display remarkable dual optoelectronic functionality, including highly sensitive photodetection and gate-tunable persistent photoconductivity. The responsivity of the hybrids was found to be nearly 1 x 10(10) A W-1 at 130 K and 5 x 10(8) A W-1 at room temperature, making them the most sensitive graphene-based photodetectors. When subjected to time-dependent photoillumination, the hybrids could also function as a rewritable optoelectronic switch or memory, where the persistent state shows almost no relaxation or decay within experimental timescales, indicating near-perfect charge retention. These effects can be quantitatively explained by gate-tunable charge exchange between the graphene and MoS2 layers, and may lead to new graphene-based optoelectronic devices that are naturally scalable for large-area applications at room temperature.