OER) or only remain active for one of the reactions (different ORR/OER rates). [1-5] This can result in high overpotentials-excess energy above its thermodynamic value (2.96 V)-required to form and decompose lithium peroxide (Li 2 O 2) at the cathode during discharge (ORR) and charge (OER) processes, respectively. Numerous metal catalysts such as platinum (Pt), gold (Au), and ruthenium (Ru), as well as non-metallic catalysts such as transition-metal oxides, transition-metal dichalcogenides, and carbon-based catalysts, have been employed to resolve this issue, however, no major breakthrough has been reported to date. [4,6-11] Therefore, designing a highly active catalyst that can minimize the energy barriers-excess input energy-to form and decompose Li 2 O 2 nanoparticles at the cathode is a key challenge for the development of this technology. Electrocatalytic properties of transition metal phosphides have received great attention and been subject of theoretical and experimental studies. [12-16] Wang et al. demonstrated a convenient and straightforward approach to the synthesis of a 3D selfsupported Ni 5 P 4-Ni 2 P nanosheet cathode, very stable in acidic medium with an outstanding hydrogen evolution reaction (HER) activity. [17] Some other studies include development of The main drawbacks of today's state-of-the-art lithium-air (Li-air) batteries are their low energy efficiency and limited cycle life due to the lack of earth-abundant cathode catalysts that can drive both oxygen reduction and evolution reactions (ORR and OER) at high rates at thermodynamic potentials. Here, inexpensive trimolybdenum phosphide (Mo 3 P) nanoparticles with an exceptional activity-ORR and OER current densities of 7.21 and 6.85 mA cm −2 at 2.0 and 4.2 V versus Li/Li + , respectively-in an oxygen-saturated non-aqueous electrolyte are reported. The Tafel plots indicate remarkably low charge transfer resistance-Tafel slopes of 35 and 38 mV dec −1 for ORR and OER, respectively-resulting in the lowest ORR overpotential of 4.0 mV and OER overpotential of 5.1 mV reported to date. Using this catalyst, a Li-air battery cell with low discharge and charge overpotentials of 80 and 270 mV, respectively, and high energy efficiency of 90.2% in the first cycle is demonstrated. A long cycle life of 1200 is also achieved for this cell. Density functional theory calculations of ORR and OER on Mo 3 P (110) reveal that an oxide overlayer formed on the surface gives rise to the observed high ORR and OER electrocatalytic activity and small discharge/charge overpotentials. The advancement of lithium-air (Li-air) batteries, proposed as a potential alternative for existing energy storage systems, is mainly hampered by low energy efficiency and limited cycle life. One of the major drawbacks for today's Li-air batteries is that developed catalysts exhibit sluggish activity for both oxygen reduction and evolution reactions (ORR and