It has been clear the increasing importance of nanostructured materials in the present scientific and technological developments due to their unique properties. It is also well established that properties of materials can be severely altered by making them to reach a nanostructured condition. The present work presents an alternative route for obtain nanoestructured nickelcobalt alloy. The methodology is based on the dissociation of the metal nitrates in a very small oxides particles, even nanometric ones, and subsequent hydrogen reduction of the obtained oxides. Thermodynamic studies have been developed to support the feasibility of the reactions carried out to obtain nickel and cobalt oxides as well as the metals particles. Nickel and cobalt oxides were produced, either isolated or co-formed, by dehydrating a water dissolved homogeneous solution of Ni (NO3)2 or/and Co(NO3)2 at 400oC for about three hours. X-ray diffraction has been carried out to confirmed the Co3O4 and NiO formation. Transmission Electron Microscopy (TEM) studies have shown nanoscale structures with different morphology and size distribution. Hydrogen reduction was applied to obtain Ni, Co and Ni0.5- Co0.5 alloy. The temperature and hydrogen partial pressure range studied were, respectively, 200oC-500oC and 0,4-1,0atm. The NiO reduction showed an autocatalytic behavior with Ea = 28,7kJ/mol while the isolated Co3O4 and the co-formed oxides reductions followed topochemical reaction model, with Ea = 33,7kJ/mol and 29,7kJ/mol, respectively. The Ni-Co alloy synthesis reaction showed a first order behavior. The TEM studies have revealed a Ni-Co alloy constituted by nanoscale single crystals of about 20nm in size.