The construction of sub-nanometer cluster catalysts (<1nm) with almost complete exposure of active atoms serves as a promising avenue for the simultaneous enhancement of atom utilization efficiency and specific activity. Herein, a core-shell cobalt-cerium bimetallic oxide protected by high coverage sub-nanometer Ir clusters (denoted as Ir cluster@CoO/CeO2) is constructed by a confined in situ exsolution strategy. The distinctive core-shell structure endows Ir cluster@CoO/CeO2 with enhanced intrinsic activity and high conductivity, facilitating efficient charge transfer and full-pH water splitting. The Ir cluster@CoO/CeO2 achieves low overpotentials of 49/215, 52/390, and 54/243mV at 10mAcm-2 for hydrogen evolution reaction/oxygen evolution reaction (HER/OER) in 0.5m H2SO4, 1.0m PBS, and 1.0m KOH, respectively. The small decline in performance after 300h of operation renders it one of the most effective catalysts for full-pH water splitting. DFT calculations indicate that oriented electron transfer (along the path from Ce to Co and then to Ir) creates an electron-rich environment for surface Ir clusters. The reconstructed interface electronic environment provides optimized intermediates adsorption/desorption energy at the Ir site (for HER) and at the Ir-Co site (for OER), thus simultaneously speeding up the HER/OER kinetics.