To satisfy global energy demands and decrease the level of atmospheric greenhouse gases, alternative clean energy sources are required. Hydrogen is one of the most promising clean energy sources due to its high chemical energy density and near-zero greenhouse gas emissions. A single alloyed phase of Pd/Pt nanoclusters as quantum dots (QDs) was prepared and loaded over Co₃O₄ nanoparticles with a low loading percentage (1 wt.%) for hydrogen generation from the hydrolysis of NaBH₄ at room temperature. L-glutathione (SG) was used as a capping ligand. It was found that the single alloy catalyst (Pd_0.5–Pt_0.5)_n(SG)_m/Co₃O₄ caused a significant enhancement in hydrogen generation in comparison to the monometallic clusters (Pd_n(SG)_m and Pt_n(SG)_m). Moreover, the Pd/Pt alloy showed a positive synergistic effect compared to the physical mixture of Pd and Pt clusters (1:1) over Co₃O₄.