Reversible protonic ceramic electrochemical cells (R-PCECs) are a promising option for efficient and low-cost generation of electricity and hydrogen. Commercialization of R-PCECs, however, hinges on the development of highly active and robust air electrodes. Here, we report an air electrode consisting of PrBa 0.8 Ca 0.2 Co 2 O 5+δ and in situ exsolved BaCoO 3−δ nanoparticles (PBCC−BCO) that shows minimal polarization resistance (∼0.24 Ω cm 2 at 600 °C) and high stability when exposed to humidified air with 3−50% H 2 O. An R-PCEC utilizing PBCC-BCO demonstrates remarkable performances at 600 °C: achieving a peak power density of 1.06 W cm −2 in the fuel cell mode and a current density of 1.51 A cm −2 at 1.3 V in an electrolysis mode. More importantly, the R-PCECs demonstrate an exceptionally high durability over 1833 h of continuous operation in the electrolysis mode. This work offers an efficient approach to design of high-performance and durable electrodes for R-PCECs.