Efficient non-precious metal catalysts are crucial for hydrogen production from borohydride compounds in aqueous media via hydrogen atoms in water. A method for preparing magnetic polymer nanoparticles is developed in this study based on the chemical deposition of nickel onto hydrophilic polymer nanogels. High-resolution transmission electron microscopic and XPS analyses show that Ni exists mainly in the form of NiO in nanogels. Excellent catalytic activities of the nanoparticles are demonstrated for hydrogen generation from the hydrolysis of dimethylamine-borane and sodium borohydride in which the initial TOF (turn-over frequencies) are 376 and 1919 h−1, respectively. Kinetic studies also reveal an Arrhenius activation energy of 50.96 kJ mol−1 for the hydrolysis of dimethylamine-borane and 47.82 kJ mol−1 for the hydrolysis of sodium borohydride, which are lower than those catalyzed by Ru metal. Excellent reusability and the use of water for hydrogen production from dimethylamine-borane provide the additional benefit of using a hybrid catalyst. The principle illustrated in the present study offers a new strategy to explore polymer-transition metal hybrid particles for hydrogen energy technology.