Acid-treated multi-walled carbon nanotube (MWCNT) covalently functionalized with cobalt triphenothiazine porphyrin (CoTriPTZ-OH) A3B type porphyrin, containing three phenothiazine moieties (represented as MWCNT-CoTriPTZ) is synthesized and characterized by various spectroscopic and microscopic techniques. The nanoconjugate, MWCNT-CoTriPTZ, exhibits a pair of distinct redox peaks due to the Co2+/Co3+ redox process in 0.1M pH 7.0 phosphate buffer. Further, it electrocatalytically oxidizes hydrazine at a low overpotential with a high current. This property is advantageously utilized for the sensitive determination of hydrazine. The developed electrochemical sensor exhibits high sensitivity (0.99 µAµM-1cm-2), a low limit of detection (4.5 ppb), and a broad linear calibration range (0.1µM to 3.0mM) for the determination of hydrazine. Further, MWCNT-CoTriPTZ is exploited for hydrazine-assisted green hydrogen synthesis. The high efficiency of hydrazine oxidation is confirmed by the low onset potential (0.45V (vs RHE)) and 0.60V (vs RHE) at the current density of 10mA.cm-2. MWCNT-CoTriPTZ displays a high current density (77.29mA.cm-2) at 1.45V (vs RHE).