Water electrolysis is a propitious strategy to overcome the exceeding energy crisis by producing renewable and green hydrogen fuel. However, the practical application of this process is limited due to the inadequacy of earth-rich, economical, and efficient electrocatalysts for carrying out kinetically more sluggish oxygen evolution reactions (OER). In the present research, a simple sol–gel method was employed to produce Co3O4/Pr2O3 nanocomposite material, which provides exceptional electrical conductivity and lesser charge transfer resistance of mixed-valence cations. The fabricated nanomaterials were analyzed using various scientific techniques, including X-ray diffraction (XRD), scanning electron microscopy (SEM), high-resolution transmission electron microscopy (HR-TEM), and energy dispersive X-ray spectroscopy (EDX) to determine their crystal structure, morphology, elemental composition, and oxidation states. To investigate the water oxidation capability and steadiness of the modified Co3O4/Pr2O3 electrode material in alkaline conditions, cyclic voltammetry (CV), linear sweep voltammetry (LSV), and constant current chronoamperometry (CA) were utilized. These outcomes revealed that the resultant nanocomposite exhibits a minimal overpotential around 257 mV and a lower Tafel slope around 78 mVdec−1 at a benchmark current density of 10 mAcm−2. In addition, the alkaline solution reliability of the electrocatalysts was examined and confirmed to be steady for 24 h via chronoamperometry. The extraordinary electrocatalytic achievement of Co3O4/Pr2O3 is ascribed to its structural synergistic effect, which encourages the oxygen evolution activity. [ABSTRACT FROM AUTHOR]