Oxygen reduction reaction (ORR) and Lithium storage both play the key roles in energy conversion and storage devices. Here, we report a honeycomb-like nitrogen-doped carbon derived from enteromorpha algae (N-EA), using a one-step pyrolysis process at only 600 °C to simultaneously achieve doping, carbonization and activation. After anchoring CoFe2O4 on N-EA, CoFe2O4/N-EA, not only inherits the high surface area, porous structure, active nitrogen species from N-EA, but also benefits from the active sites and high theoretical specific capacity of Li storage from CoFe2O4. The synergistic effect makes CoFe2O4/N-EA an alternative catalyst to commercial Pt/C for ORR with superior activity and stability. Moreover, CoFe2O4/N-EA exhibits a remarkable cycle performance with a 100% capacity retention (∼900 mAh g−1) after 500 cycles at 0.5 A g−1. Green preparation, waste utilization, good ORR performance and Li storage property of CoFe2O4/N-EA could make it a promising candidate for fuel cells and LIBs.