Developing high-performance bifunctional electrocatalysts towards the hydrogen evolution reaction/oxygen evolution reaction (HER/OER) holds great significance for efficient water splitting. This work presents a two-stage metal-organic thermal evaporation strategy for the fabrication of Ru-based catalysts (Ru/NF) through growing ruthenium (Ru)/ruthenium dioxide (RuO2) nanoparticles (NPs) on nickel foam (NF). The optimal Ru/NF shows remarkable performance in both the HER (26.1 mV) and the OER (235.4 mV) at 10 mA cm-2 in an alkaline medium. The superior OER performance can be attributed to the synergistic interaction between Ru and RuO2, facilitating fast alkaline water splitting. Density functional theory studies reveal that the resulting Ru/RuO2 with the (110) crystal surface reinforces the adsorption of oxygen on RuO2, while metallic Ru improves water dissociation in alkaline electrolytes. Besides, Ru/NF requires only 1.50 V at 10 mA cm-2 for overall water splitting, surpassing 20 wt% Pt/C/NF||RuO2/NF. This work demonstrates the promising potential of a thermal evaporation approach for designing stable Ru-based nanomaterials loaded onto conductive substrates for high performance overall water splitting.