Abstract: Developing cost-effective, stable, and efficient electrocatalysts is crucial for the large-scale implementation of hydrogen energy. In this study, a multi-component composite catalyst, denoted as Pt-NiCoN_x, was successfully synthesized by loading ultra-low amounts of platinum (Pt) onto NiN_x, CoN_x, and Ni-Co alloy phases. This material fully leverages the excellent hydrogen evolution reaction (HER) activity of Pt, the synergistic catalytic effects among multiple phases, and the abundant heterointerfaces, collectively leading to significantly enhanced catalytic performance. The nitridation process optimized the electronic structures of Ni and Co, exposing more active sites while improving the electrical conductivity, reaction activity, and stability of the material. Hydroxyl-functionalized multi-walled carbon nanotubes (MWCNT-OH) served as the support, further enhancing electrical conductivity and structural integrity. The ultra-low loading of Pt (1.97%) on the composite surface greatly increased Pt atomic utilization, resulting in outstanding catalytic properties. Moreover, the strong interaction between Pt and NiCoN_x facilitated electron transfer across different phases, and the superior hydrogen adsorption capability of Pt accelerated the dissociation and generation of hydrogen molecules, jointly boosting the overall performance of the catalyst. In a 1.0 mol/L KOH electrolyte, Pt-NiCoN_x/MWCNT-OH exhibited a small Tafel slope of 49.8 mV/dec, with low overpotentials of only 47.2 mV at 10 mA/cm² and 129.5 mV at 100 mA/cm², along with remarkable long-term stability. This research provides a novel strategy for designing efficient and economical electrocatalysts for water splitting, contributing positively to the development of sustainable hydrogen energy technologies.