Integrating the merits of different components to construct heterostructures for energy storage and conversion has attracted intensive attention. Herein, taking advantage of bimetallic MOFs and transition bimetal hydroxide, we have successfully used nanoflower-like Ni1-xCox(OH)2 as both the precursor and template to in situ construct three dimensional (3D) NiCo-MOF@Ni1-xCox(OH)2 (denoted as MOF@TMH) hierarchical heterostructures. Benefiting from the optimized composition with hierarchical heterostructures assembled by ultrathin nanosheets, MOF@TMH-2 possesses rich effective active sites and high electrochemical reactivity, delivering superior pseudocapacitor performance with a specific capacitance of 1855.3 F g-1 at 2 A g-1 and good rate performance. Besides, MOF@TMH-2 also exhibits excellent OER activity with small overpotentials of 193 mV and 310 mV at 10 and 100 mA cm-2, respectively.