Although the recent emergence of decoupled water electrolysis prevents typical H2/O2 mixing, the further development of decoupled water electrolysis has been confined by the lack of reliable redox mediator (RM) electrodes to support sustainable H2 production. As energy storage electrodes, layered double hydroxides (LDHs) possess inherently poor conductivity/stability, which can be improved by growing LDHs on graphene substrates in situ. The proper modification of the graphene surface structure can improve the electron transport and energy storage capacity of composite electrodes, while current methods are usually cumbersome and require high temperatures/chemical reagents. Therefore, in this study, dip coating was adopted to grow graphene oxide (GO) on nickel foam (NF). Then, the GO was reduced using nonthermal plasma (NTP) to reduced GO (rGO) in situ while simultaneously implementing N doping to obtain plasma-assisted N-doped rGO on NF (PNrGO/NF). The uniform conductive substrate ensured the subsequent growth of less-aggregated NiCo-LDH nanowires, which improved the conductivity and energy storage capacity (5.93 C/cm2 at 5 mA/cm2) of the NiCo-LDH@PNrGO/NF. For the decoupled system, the composite RM electrode exhibited a high buffering capacity for 1300 s during the decoupled H2/O2 evolution, and in the conventional coupled system, the necessary input voltage of 1.67 V was separated into two lower ones, 1.42/0.33 V for H2/O2 evolutions, respectively. Simultaneously, the RM possessed outstanding redox reversibility and structural stability during long-term cycling. This work could offer a feasible strategy for using NTP to synthesize excellent RM electrodes for application to decoupled water electrolysis.