Symmetrical solid oxide cells (SSOCs), which use the same material for both anode and cathode, simplify the cell fabrication process and effectively resist carbon deposition and sulfur poisoning. In this study, Zr, Y co-doped SrFe0.8Zr0.1Y0.1O3-δ (SFZY) perovskite oxide is synthesized and evaluated its properties as an SSOFCs electrode. Density functional theory (DFT) indicates that the local state density of SFZY is lower than that of SrFeO3-δ (SFO). SFZY has good chemical compatibility with La0.8Sr0.2Ga0.83Mg0.17O3−δ (LSGM) electrolyte below cell operating temperature. Zr, Y co-doped SrFe0.8Zr0.1Y0.1O3-δ maintains structural stability in H2 atmosphere. At 750 ℃, the polarization resistance (Rp) of SFZY is 0.11 and 1.06 Ω cm2 in air and hydrogen atmosphere, respectively. During the Rp stability test, SFZY exhibits better stability than that of SrFeO3-δ in air and hydrogen atmosphere. At 750 ℃, the maximum power density of SFZY/LSGM/SFZY fuel cell reaches 420.1 and 258.31 mWcm−2 using H2 and wet C3H8 as fuel, respectively. In electrolytic mode, the current density of SFZY/LSGM/SFZY electrolysis cell reaches -0.55 A cm−2 at 1.3V for electrolysis of pure CO2 at 750 ℃. In summary, SFZY has a great potential as SSOCs electrode.