Nowadays, the assembling of hybrid water electrolysis using a hydrazine oxidation reaction (HzOR) instead of a slow anodic oxygen evolution reaction (OER) has been established as a favorable technology for efficient hydrogen (H 2 ) production. Nevertheless, it is still critical to develop highly effective bifunctional electrocatalysts for both hydrogen evolution reaction (HER) and HzOR. In this work, we propose a facile approach for the design and synthesis of single-Pd-nanoparticles-decorated bimetallic NiCo 2 O 4 nanoplates as a bifunctional electrocatalyst for both HER and HzOR. Initially, the NiCo 2 O 4 nanoplates are synthesized by a combination of hydrothermal reaction and high-temperature calcination. Subsequently, single-Pd nanoparticles with varying proportions are decorated on NiCo 2 O 4 nanoplates via facile pulsed laser irradiation (PLI), leading to the formation of Pd/NiCo 2 O 4 composites. The optimized Pd/NiCo 2 O 4 composite shows a remarkable electrocatalytic ability with a low overpotential of 294 mV for the HER and an ultrasmall working potential of −6 mV (vs RHE) for the HzOR at 10 mA cm −2 in a 1 M KOH electrolyte. Thus, an overall hydrazine splitting (OHzS) electrolyzer with the Pd/NiCo 2 O 4 ∥Pd/NiCo 2 O 4 system presents the current densities of 10 and 100 mA cm −2 at respective low cell voltages of 0.35 and 0.94 V. Notably, in situ/operando Raman spectroscopy confirms the surface formation of α-Co(OH) 2 during the HER and γ-NiOOH during the HzOR. Furthermore, the density function theory (DFT) calculations demonstrate that the decoration of Pd onto NiCo 2 O 4 facilitates the optimization of both the hydrogen adsorption free energy (ΔG H* ) and enhancement of hydrazine dehydrogenation kinetics. This work introduces a facile strategy for fabricating bifunctional electrocatalysts, potentially useful in energy-saving H 2 production.