Efficient methods for preparing carbon nanotube (CNT)-confined metal catalysts are of great significance for electrocatalysis. Hence, in this study, Fe and Co promoters were added to the precursors of commercial carbon black and melamine to form N-doped CNTs confined bimetallic catalysts (FeCo@N-CNTs) via in situ pyrolysis. The FeCo@N-CNT catalysts exhibited a bamboo-like morphology with FeCo alloy nanoparticles encapsulated in the CNTs and high activity toward the oxygen reduction reaction, with a half-wave potential of 0.864 mV, higher than that of commercial Pt/C (0.827 mV) in alkaline solutions. The catalytic performance is attributable to the synergistic effects between the FeCo alloy and N-doped CNT structure. Moreover, the confinement of the FeCo nanoparticles inside the CNTs imparted the prepared catalysts with resistance to methanol poisoning and long-term stability. This versatile method of synthesizing CNTs directly from carbon black provides a new strategy for preparing high-performance non-precious-metal-based N-doped CNT catalysts for practical fuel cell applications.