Enhanced catalytic activity towards oxygen reduction (ORR) and evolution (OER) reactions has been achieved by combination of spinel Co3O4 nanoparticles with Ag particles. Quasi-stationary polarization curves showed that the mixed catalyst, Ag+Co3O4 (10wt%), outperformed its components. Rotating ring-disc electrode (RRDE) measurements revealed a negligible peroxide species formation and a 4-electron pathway for ORR. A tafel slope of ca. 75mVdec−1 has been observed. The overpotential for ORR at 10% Co3O4 catalyst is ca. 70mV lower than that of Ag and only ca. 80mV higher than that of the commercial Pt catalyst. DEMS technique provided a direct evidence for oxygen evolution at these bimetallic catalysts. This hybrid is therefore one of the (or even the) most active, carbon-free, durable, non-precious ORR and OER electrocatalysts reported to date.