Among renewable energy technologies, particular attention is paid to electrochemically transforming methanol into valuable formate and storing energy into supercapacitors. In this study, we detailed a simple colloidal‐based protocol for synthesizing a series of alloy nanoparticles with tuned Ni/Co atomic ratios, thereby optimizing their electrochemical performance. With the addition of 1 M methanol in 1 M KOH, the optimized composition was able to electrochemically produce formate at 0.149 mmol cm‐2 h‐1 with a Faradaic efficiency up to 95.1% at 0.6 V versus Hg/HgO within a 22‐hour testing period. In 1 M KOH solution without methanol, the supercapacitive performance was achieved at a specific capacitance of over 1500 F g‐1, and outstanding cycling stability with only approximately 20% decay after continuous 10000 charging‐discharging cycles. These results underscore that the prepared Ni‐Co alloy nanoparticles serve as multi‐functional electrodes for electrochemical energy conversion and storage, particularly in the MOR and supercapacitors applications.