Electrochemical water oxidation, namely, oxygen evolution reaction (OER), plays an essential role in many technologies such as metal air batteries and water electrolyzer. To date, the state-of-the-art electrocatalysts for OER are mainly based on RuO₂ and IrO₂. However, their scarcity, high cost, and poor durability limit the large-scale commercialization of these materials. Therefore, it is significant to develop cost-effective, abundant, and stable electrocatalysts. Among various non-precious electrocatalysts, nickel-based layered double hydroxides (LDHs) have attracted lots of attention recently owing to their low cost and high activity for OER. Herein, NiCoFe LDH nanosheets were synthesized by one-step hydrothermal method. Notably, the incorporation of Fe into NiCo LDH can modify the electronic structure of the Ni species, enhancing conductivity and intrinsic catalytic activity for OER. The NiCoFe-LDHs exhibited low overpotential of 294 mV at a current density of 10 mA cm^-2, small Tafel slope of 61 mV dec^-1, and long-term durability. The outstanding OER performance is mainly attributed to the synergistic effect of the ternary metal system. Consequently, such a synthesis procedure of ternary metal structure could be applied to prepare multi-metal composites for improving electrochemical performance.