Hydrazine nitrate (HN), an inorganic salt, was first found to have dual effects on inducing obvious viscoelasticity of both cationic and anionic surfactant solutions. It was interesting that the surfactant solutions exhibited characteristic wormlike micelle features with strong viscoelastic properties upon the addition of this inorganic salt. The rheological properties of the surfactant solutions have been measured and discussed. The apparent viscosity of the solutions showed a volcano change with an increase of the HN concentration. Correspondingly, the microstructures of the micelles in the solutions changed with the apparent viscosity. First, wormlike micelles began to form and grew with an increase of the HN concentration. Subsequently, the systems exhibited linear viscoelasticity with characteristics of a Maxwell fluid in the intermediate mass fraction range, which originated from a 3D entangled network of wormlike micelles. Finally, a transition from linear micelles to branched ones probably took place at higher HN contents. In addition, the origin of the dual effects brought by HN addition on inducing viscoelasticity in both cationic and anionic surfactant solutions was investigated.