Effects of Co and Co-P catalysts on the hydrolysis of alkaline $NaBH_4$ solution were investigated. Co and Co-P catalysts were prepared on Cu substrate by electroplating. Hydrogen generation rate of Co-P catalyst was much faster than that of Co catalyst, demonstrating that Co-P had higher intrinsic catalytic activity for the hydrolysis of $NaBH_4$ than Co. Hydrogen generation properties of Co-P catalysts largely depended on cathodic current density and electroplating time because they influenced on the P concentration of the Co-P catalysts. Maximum hydrogen generation rate of Co-P catalyst was 1066 ml/min.g-catalyst in 1 wt.% NaOH + 10 wt.% $NaBH_4$ solution at $20^{circ}C$, which was obtained at cathodic current density of $0.01;A/cm^2$ for 130 s.