Two different nanostructures of two dissimilar highly‐potent active electrocatalysts, P‐dopped metallic‐(1T)‐Fe‐VSe2 (P,Fe‐1T‐VSe2) nanosheet and P‐dopped Fe‐CoSe2 (P,Fe‐CoSe2) nanorods are hybridized and integrated into a single heterostructure (P,Fe‐(VCo)Se2) on Ni‐foam for high‐performance water splitting (WS). The catalytic efficiency of VSe2 nanosheets is first enhanced by enriching metallic (1T)‐phase, then forming bimetallic Fe‐V selenide, and finally by P‐doping. Similarly, the catalytic efficiency of CoSe2 nanorods is boosted by first fabricating Fe‐Co bimetallic selenide and then P‐doping. To develop super‐efficient electrocatalysts for WS, two individual electrocatalysts P,Fe‐1T‐VSe2 nanosheet and P,Fe‐CoSe2 are hybridized and integrated to form a heterostructure (P,Fe‐(VCo)Se2). Metallic (1T)‐phase of transition metal dichalcogenides has much higher conductivity than the 2H‐phase, while bimetallization and P‐doping activate basal planes, develop various active components, and form heterostructures that develop a synergistic interfacial effect, all of which, significantly boost the catalytic efficacy of the P,Fe‐(VCo)Se2. P,Fe‐(VCo)Se2 shows excellent performance requiring very low overpotential (ηHER = 50 mV@10 mAcm−2 and ηOER = 230 mV@20 mAcm−2). P,Fe‐(VCo)Se2 (+, −) device requires a cell potential of 1.48 V to reach 10 mA cm−2 for overall WS.