A dandelion-like CNTs-Ni foam composite carrier supported Co–Mo–P ternary alloy catalyst (Co–Mo–P/CNTs-Ni foam) was prepared by electroless plating. The structure of Co–Mo–P/CNTs-Ni foam catalyst is characterized by XRD, SEM, XPS and EDS. The particle size of Co–Mo–P ternary alloy nanoparticles is about 80 nm. The Co–Mo–P/CNTs-Ni foam completely retains the tubular structure of carbon nanotubes and the gaps between carbon nanotubes of CNTs-Ni carrier, which increases the specific surface area of the catalyst and the flow space of reactants and products. Co–Mo–P/CNTs-Ni foam catalyzes sodium borohydride alcoholysis to produce hydrogen at a maximum rate of 2.64 L ·min−1 ·g−1, and the reaction activation energy is 47.27 kJ ·mol−1, which is far lower than that of the spontaneous alcoholysis reaction of sodium borohydride. After the Co–Mo–P/CNTs-Ni foam catalyst was reused 8 times, the catalytic hydrogen production rate was reduced by 23% compared with the initial rate. •Prepare dandelion-like Co–Mo–P/CNTs-Ni foam catalyst.•The addition of Mo element increases the activity and stability of the catalyst.•The addition of Mo element reduces the activation energy of the reaction.