Developing bi-functional electrocatalysts for both oxygen reduction reaction (ORR) and hydrogen evolution reaction (HER) is crucial for enhancing the energy transfer efficiency of metal-air batteries and fuel cells, as well as producing hydrogen with a high purity. Herein, a series of Pd-Ru alloyed nanoparticles encapsulated in porous carbon nanosheets (CNs) were synthesized and employed as a bifunctional electrocatalyst for both ORR and HER. The TEM measurements showed that Pd-Ru nanoparticles, with a size of approximately 1-5 nm, were uniformly dispersed on the carbon nanosheets. The crystal and electronic structures of the Pd x Ru 100−x /CNs series were revealed by powder X-ray diffraction (XRD) and X-ray photoelectron spectroscopy (XPS). The as-prepared samples exhibited effective ORR activity in alkaline media and excellent HER activity in both alkaline and acid solutions. The Pd 50 Ru 50 /CNs sample displayed the best activity and stability among the series, which is comparable and superior to that of commercial 10% Pd/C. For ORR, the Pd 50 Ru 50 /CNs catalyst exhibited an onset potential of 0.903 V vs. RHE (Reversible Hydrogen Electrode) and 11.4% decrease of the current density after 30,000 s of continuous operation in stability test. For HER, the Pd 50 Ru 50 /CNs catalyst displayed an overpotential of 37.3 mV and 45.1 mV at 10 mA cm −2 in 0.1 M KOH and 0.5 M H 2 SO 4 , respectively. The strategy for encapsulating bimetallic alloys within porous carbon materials is promising for fabricating sustainable energy toward electrocatalysts with multiple electrocatalytic activities for energy related applications.