Channel‐rich RuCu snowflake‐like nanosheets (NSs) composed of crystallized Ru and amorphous Cu were used as efficient electrocatalysts for oxygen evolution reaction (OER), hydrogen evolution reaction (HER), and overall water splitting in pH‐universal electrolytes. The optimized RuCu NSs/C‐350 °C and RuCu NSs/C‐250 °C show attractive activities of OER and HER with low overpotentials and small Tafel slopes, respectively. When applied to overall water splitting, the optimized RuCu NSs/C can reach 10 mA cm−2 at cell voltages of only 1.49, 1.55, 1.49 and 1.50 V in 1 m KOH, 0.1 m KOH, 0.5 m H2SO4 and 0.05 m H2SO4, respectively, much lower than those of commercial Ir/C∥Pt/C. The optimized electrolyzer exhibits superior durability with small potential change after up to 45 h in 1 m KOH, showing a class of efficient functional electrocatalysts for overall water splitting. Channel rich RuCu nanosheets (NSs) have been successfully prepared and applied as a highly active and stable bifunctional electrocatalyst for the oxygen evolution reaction, hydrogen evolution reaction, as well as overall water splitting. This system is one of the best electrocatalysts reported to date.