For the fabrication of high-efficient bifunctional electrocatalyst of oxygen electrode, several electrocatalysts were prepared and tested on the URFC performance including both fuel cell and water electrolysis in a single cell URFC system. The catalysts revealed fuel cell performance in the order of Pt black>PtIr>PtRuOx>PtRu∼PtRuIr>PtIrOx and water electrolysis performance in the order of PtIr∼PtIrOx>PtRu>PtRuIr>PtRuOx∼Pt black. Considering both results PtIr showed the best URFC performance. With increasing Ir or IrOx composition from 0 to 50wt% in PtIr and PtIrOx catalysts the fuel cell performance decreased while the water electrolysis performance significantly improved. Hence, the PtIr catalyst including 1wt% Ir revealed the highest URFC efficiency. The catalyst content for the URFC system was optimized as 1.0mg/cm² of Pt black as hydrogen electrode and 2.0mg/cm² of PtIr (99:1) as oxygen electrode.