The current study presents a quick and simple method for synthesizing Ir nanoclusters decorated on an N‐doped carbon (NC) matrix via pulsed laser ablation in liquid, followed by pyrolysis. The resulting Ir–NC material acts as a dual‐functional electrocatalyst, efficiently facilitating hydrogen generation through the hydrazine oxidation reaction (HzOR) and the hydrogen evolution reaction (HER) in alkaline seawater. The optimized Ir–NC‐2 catalyst exhibits a low operating potential of 23 mV versus the reversible hydrogen electrode for HzOR and a remarkably low overpotential of 24 mV for HER, achieving a current density of 10 mA cm−2 in alkaline seawater, surpassing the performance of the Pt/C catalyst. Notably, the Ir–NC‐2 catalyst also demonstrates superior dual‐functionality in overall hydrazine‐assisted seawater splitting, requiring only 0.1 V at 10 mA cm−2 while maintaining stability. Moreover, density functional theory calculations reveal that the strong electronic interaction between the Ir nanoclusters and the NC matrix enhances mass transfer and electron conductivity, significantly boosting HER activity and accelerating the kinetics of hydrazine dehydrogenation. Consequently, the Ir–NC‐2 catalyst performs efficiently in a Zn–hydrazine battery, achieving high energy efficiency of 95.5% and demonstrating excellent stability for 120 h (360 cycles), indicating its potential for practical applications.