NiO and NiO-CuO polycrystalline rodlike nanoparticles were confined and stabilized within the channels of ordered mesoporous SBA-15 silica by a simple and viable approach consisting in incipient wetness impregnation of the calcined support with aqueous solutions of metal nitrates followed by a mild drying step at 25 °C and calcination. As revealed by low- and high-angle XRD, N2 adsorption/desorption, HRTEM/EDXS and H2 TPR analyses, the morphostructural properties of NiO-CuO nanoparticles can be controlled by adjusting their chemical composition, creating the prerequisites to obtain high performance bimetallic catalysts. Experimental evidence by in situ XRD monitoring during the thermoprogrammed reduction indicates that the confined NiO-CuO nanoparticles evolve into thermostable and well-dispersed Ni-Cu heterostructures. The strong Cu-Ni and Ni-support interactions demonstrated by TPR and XPS were put forward to explain the formation of these new bimetallic structures. The optimal Ni-Cu/SBA-15 catalyst (i.e., Cu/(Cu+Ni) atomic ratio of 0.2) proved a greatly enhanced reducibility and H2 chemisorption capacity, and an improved activity in the hydrogenation of cinnamaldehyde, as compared with the monometallic Ni/SBA-15 or Cu/SBA-15 counterparts, which can be associated with the synergism between nickel and copper and high dispersion of active components on the SBA-15 host. The unique structure and controllable properties of both oxidic and metallic forms of Ni-Cu/SBA-15 materials make them very attractive for both fundamental research and practical catalytic applications.