Hydrogen energy is one of the key technologies that can help to prevent global warming. A water electrolysis process can be used to produce hydrogen, in which hydrogen is produced at one electrode of the electrochemical cell, and oxygen is produced at the other electrode. On the other hand, the oxygen evolution reaction (OER) requires multiple reaction steps and precious-metal-based catalysts (e.g., Ru/C, Ir/C, RuO2, and IrO2) as electrocatalysts to improve the reaction rate. Their high cost and limited supply, however, limit their applications to the mass production of hydrogen. In this study, boron, nitrogen-doped carbon incorporated with molybdenum carbide (MoC-BN/C) was synthesized to replace the precious-metal-based catalysts in the OER. B, N-doped carbon with nanosized molybdenum nanoparticles was fabricated by plasma engineering. The synthesized catalysts were heat-treated at 600, 700, and 800 °C in nitrogen for one hour to enhance the conductivity. The best MoC-BN/C electrocatalysts (heated at 800 °C) exhibited superior OER catalytic activity: 1.498 V (vs. RHE) and 1.550 V at a current density of 10 and 100 mA/cm2, respectively. The hybrid electrocatalysts even outperformed the noble electrocatalyst (5 wt.% Ru/C) with higher stability. Therefore, the hybrid electrocatalyst can replace expensive precious-metal-based catalysts for the upcoming hydrogen economy.