Abstract: A method of manufacturing an electrode for water electrolysis having high catalytic activity for a hydrogen evolution reaction by forming a catalyst layer in which molybdenum oxide and a Ni-Mo-based alloy are mixed and an electrode for water electrolysis manufactured thereby are described. The method includes preparing catalyst materials including a solvent, a nickel (Ni) precursor, a molybdenum (Mo) precursor, and sodium citrate, preparing an electrode base material, obtaining a plating solution by dissolving the nickel (Ni) precursor, the molybdenum (Mo) precursor, and the sodium citrate in the solvent, and forming a catalyst layer on the surface of the electrode base material by immersing the electrode base material in the plating solution and applying an electric current.