Iron and nickel doped CoSe2 were prepared by solvothermal method, and they were proved to be ternary chalcogenides by series of physical characterization. The effects of the iron and nickel contents on the oxygen reduction reaction were investigated by electrochemical measurements, and the highest activities were obtained on Co0.7Fe0.3Se2 and Co0.7Ni0.3Se2, respectively. Both Co0.7Fe0.3Se2 and Co0.7Ni0.3Se2 presented four-electron pathway. Furthermore, Co0.7Fe0.3Se2 exhibited more positive cathodic peak potential (0.564 V) and onset potential (0.759 V) than these of Co0.7Ni0.3Se2 (0.558 V and 0.741 V). And Co0.7Fe0.3Se2 displayed even superior stability and better tolerance to methanol, ethanol and ethylene glycol crossover effects than the commercial Pt/C (20 wt% Pt).