A high-performance Ni-Cu-C composite catalyst was prepared from mixed nickel hydroxide and copper hydroxide, which were obtained by coprecipitation, by thermal treatment with acetylene-containing gas at 120 °C followed by hydrogen reduction at 180 °C. The characterization results of XRD, TEM, XPS, and H2-TPR measurements confirmed the presence of nickel carbide (Ni3C), copper carbide (CuxC), Cu, and Ni in the matrix of amorphous carbon in the composite catalyst. The mild preparation temperature and the porous carbon shell layers prevented the nano-sized particles from aggregation. The formation of interstitial Ni3C and CuxC significantly enhanced the dissociation of molecular hydrogen, accelerating the selective hydrogenation of 4-nitrophenol (4-NP) to yield 4-aminophenol (4-AP) at relatively mild conditions (80 °C and 1.0 MPa hydrogen pressure). The catalytic performance of the composite catalysts depended strongly on the Ni/Cu molar ratio, with an optimal Ni/Cu molar ratio of 4. In addition, the composite catalyst showed high conversion and selectivity to the corresponding aniline in the selective hydrogenation of other nitroarenes, including nitrobenzene, 4-nitrotoluene, 4-nitrochlorobenzene, 4-nitrobenzaldehyde, 4-nitroacetophenone, and 2-nitroaniline. The catalyst offers a novel approach to rational design and preparation of high-performance abundant metal catalysts for selective hydrogenation of nitroarenes.