Developing efficient bi-functional electrocatalysts for both oxygen reduction reaction (ORR) and hydrogen evolution reaction (HER) is crucial for producing hydrogen and utilizing hydrogen effectively to promote electrochemical energy storage in proton membrane exchange fuel cells (PEMFCs). Herein, we report Co@Pd core-shell nanoparticles encapsulated in porous carbon derived from zeolitic imidazolate framework 67 (ZIF-67) for both ORR and HER. The controlled pyrolysis of ZIF-67 can lead to the formation of Co nanoparticles encapsulated in nitrogen-doped porous carbon (Co NC), which subsequently underwent galvanic replacement with Na2PdCl4 to form Co@Pd core-shell nanoparticles embedded in nitrogen doped porous carbon (Co@Pd NC). The Co@Pd NC exhibited outperformance in ORR and HER than commercial Pd/C, as manifested by more positive onset potential and larger diffusion-limited current density in ORR tests, as well as a small overpotential to drive a current density of 10 mA cm(-2), and much lower Tafel slope in HER tests. It also demonstrated more robust long-term stability than commercial Pd/C for both ORR and HER. Multiple techniques inter-confirmed that the Pd loading in the sample was very low. The findings can pave a path for fabricating a core-shell structured nanocomposite with ultralow noble metal usage as a bifunctional catalyst for electrochemical energy storage and conversion with high-efficiency and remarkable longevity. (C) 2018 Elsevier Inc. All rights reserved.