The adsorption and activation of N2 as well as the competitive hydrogen evolution reaction (HER) pose significant challenges to the electrocatalytic nitrogen reduction reaction (ENRR), which severely limits its industrial application. Therefore, exploring the ENRR electrocatalysts with high activity and selectivity is an extremely important task. In this work, the oxygen vacancy-rich Fe2O3/Co3O4 heterostructures (referred to as Vo-X-Fe2O3/Co3O4) were rationally designed by employing Co3O4 as a template via a simple hydrothermal and subsequent calcination method, which acted as highly efficient ENRR electrocatalysts. The electrocatalytic activity of Vo-X-Fe2O3/Co3O4 can be easily regulated by optimization of the Fe content and the introduction of oxygen vacancy (Vo). The results demonstrate that the optimized Vo-1.0-Fe2O3/Co3O4 catalyst achieves a high NH3 yield of 47.37μgh-1 mgcat-1 and a Faradaic efficiency (FE) of 22.42%. Moreover, the excellent stability and reproducibility are also demonstrated. The comprehensive characterizations reveal that the exceptional performance of Vo-1.0-Fe2O3/Co3O4 can be attributed to the improved N2 adsorption and activation, restricted competitive HER and promoted electron transfer kinetics induced by the synergistic introduction of Vo and Fe. This work emerged a new speculating orientation for rational design of ENRR catalysts.