Cu-or Ni-decorated semiconductors represent a potential low-cost alternative to noble metalmodified photocatalysts. Even more effective are bimetallic NiCu nanoparticles, which can provide a remarkable photocatalytic H2 evolution enhancement compared to single element Cu-or Ni-systems. A main question of such alloyed co-catalysts is their activity with respect to alteration of their elemental composition and oxidation state over reaction time. Ex-situ characterization techniques provide controversial interpretations of the co-catalytic role of the individual elements. Hypotheses such as the in-situ reduction of "native" Ni or Cu species during photocatalysis, the oxidation of metallic Cu or Ni into oxides or hydroxides, or the formation of p-n junctions or core/shell structures, have been proposed. Herein we present an operando X-ray absorption spectroscopy study of a NiCu-TiO2 system under UV light illumination in ethanol-water solutions, i.e. under photocatalytic H2 evolution conditions. The experimental approach and cell design allow for monitoring in real time chemical changes that take place in the co-catalyst under intermittent illumination, i.e. under light on-off cycles.We show that while Ni and Cu are partially oxidized in the as-formed NiCu co-catalyst (air formed surface oxides or hydroxides), and undergo partial dissolution in the liquid phase under dark conditions, such Ni and Cu oxidized and dissolved species are reduced/redeposited as bimetallic NiCu phase at the TiO2 surface under illumination. The dissolution/redeposition mechanism is triggered by TiO2 conduction band electrons. We not only prove a UV light induced healing of the NiCu co-catalyst, but also unambiguously demonstrate that the species responsible for the strongly enhanced photocatalytic H2 evolution of NiCu nanoparticles are the metallic states of Ni and Cu.