Borohydrides present interesting options for the electrochemical power generation acting either as hydrogen source or anodic fuel for direct borohydride fuel cells (DBFC). in this work, Mg-Ni composite synthesized by mechanically alloying method, used as the catalyst for the hydrolysis of borohydride, has been investigated. Co-doping treatment has been carried out for the purpose of improving the hydrolysis rate further. The as-prepared and Co-doped Mg-Ni composites with low cost showed high catalytic activity to the hydrolysis of borohydride for hydrogen generation. After Co-doping, the hydrogen generation rate was around 280 ml.g(-1).min(-1). Borohydride would be a promising hydrogen source for fuel cells.