Abstract Oxygen evolution reaction (OER) demands cost‐effective electrocatalysts with high catalytic performance. In this effort, metal–organic framework (MOF)‐derived nanocomposites are presenting promising prospects to achieve this goal. Herein, FeCo bimetallic MOFs with different compositions are prepared through a sodium hydroxide assisted approach. By means of a successive carbonization and phosphating reaction, a series of MOF‐derived multicomponent products are synthesized. The resultant P‐doped products present enhance electrocatalytic performance for OER in alkaline electrolyte in comparison with a commercial RuO 2 catalyst, which paves the way for their practical applications for water splitting. The developed method herein also offers an opportunity for the large‐scale preparation of MOF‐derived product toward energy conversion applications.