Chlorinated organic solvents (COSs) are a significant threat to human beings. In this study, nanoscale bimetallic Ni/Fe particles were synthesized from the reaction of sodium borohydride (NaBH4) with the reduction of Ni2+ and Fe2+ in an aqueous solution. The synthesized nanoscale zero-valent iron (nZVI) and Ni-nZVI were characterized by SEM (scanning electron microscopy), XRD (X-ray diffractometer), Brunauer–Emmett–Teller (BET), and transmission electron microscopy (TEM). The removal performance of trichloroethylene (TCE) over the nZVI catalyst and Ni-nZVI was evaluated. Ni-nZVI with different Ni contents exhibited good reactivity towards the dechlorination of TCE over a 1h period, and the pseudo-first-order rate constant for TCE dechlorination by Ni-nZVI was 1.4–3.5 times higher than that of nZVI. Ni-nZVI with 5 wt% Ni contents exhibited the best dechlorination effect; the removal rates of TCE and its by-product dichloroethylene (DCE) were 100% and 63.69%, respectively. These results indicated that the Ni nanoparticles as the second dopant metal were better than nZVI for TCE degradation. This determination of the optimal Ni-NZVI load ratio provides a factual and theoretical basis for the subsequent application of nano-metal binding in the environment.