Ruthenium (Ru)-based organometallic drugs have gained attention as chemotherapeutic and bioimaging agents due to their fewer side effects and excellent physical optical properties. Tuning the electronic structures of Ru complexes has been proven to increase the cytotoxicity of cancer cells and the luminescent efficiency of the analytical probes. However, the relationship between electronic structures and bioactivities is still unclear due to the potential enhancement of both electron donor and acceptor properties. Thus, we investigated the relationship between the electronic structures of Ru(II) complexes and cytotoxicity by optimizing the electron-withdrawing (complex1), electron-neutral (complex2), and electron-donating (complex3) ligands through DFT calculations, bioactivities tests, and docking studies. Our results indicated that it was not sufficient to consider only either the effect of electron-withdrawing or electron-donating effects on biological activities instead of the total electronic effects. Furthermore, these complexes with electron-donating substituents (complex3) featured unique “off-on” luminescent emission phenomena caused by the various “HOMO-LUMO” distributions when they interacted with DNA, while complex with electron-withdrawing substituent showed an “always-on” signature. These findings offer valuable insight into the development of bifunctional chemotherapeutic agents along with bioimaging ability.