Composites of transition metal/metal‐alloy with graphitic carbon layer have received considerable attention as non‐precious catalysts for the eco‐friendly energy devices. In this work, we report graphitic carbon supported NiCo‐alloy (NiCo@GC) as non‐precious electrocatalysts for the oxygen reduction reaction in alkaline condition. The effect of pyrolysis temperature on the oxygen reduction activity was studied. The catalyst prepared at 600 ºC shows the oxygen reduction half‐wave (E1/2) potential of 0.81 V with almost 4e‐ transfer, and only 10 mV less as compared with a commercial Pt/C catalyst (0.82 V). Furthermore, the structural and chemical studies indicate that the excellent activity and stability of NiCo@GC catalysts are attributed to the strong interaction between the metal and carbon, and their combined effect, including the importance of annealing temperature.