The gas-phase and electrochemical hydrogenation properties of Nd0.5Y0.5MgNi4-xCox (where x varies from 0 to 3) were studied. Samples were prepared using sintering and annealing procedures. X-ray diffraction analysis indicated that all the alloys were single-phase. The alloys readily absorbed hydrogen, and the crystal structures of the resulting saturated hydrides were refined. Nd0.5Y0.5MgNi4H4.2 and Nd0.5Y0.5MgNi3CoH4.4 belong to the NdMgNi4H3.6 structural type, while Nd0.5Y0.5MgNi2Co2H5.5 and Nd0.5Y0.5MgNiCo3H6.0 belong to the LaMgNi4H4.85 structural type. Electrochemical studies revealed that the maximum discharge capacity of Nd0.5Y0.5MgNi4-xCox electrodes increased from 236 mAh/g to 328 mAh/g as the cobalt content increased. The high-rate dischargeability (HRD1000) initially decreased from 48 % to 7 % with increasing cobalt content, but then increased to 32 % at the highest cobalt concentration. Additionally, the electrochemical kinetic properties were determined and compared for these electrodes, including the charge-transfer resistance (Rct), polarization resistance (Rp), exchange current density (I0), limiting current density (IL), and hydrogen diffusion coefficient (DH).