Developing efficient non-noble metal catalysts that are cheap and durable for oxygen evolution reaction (OER) is a great challenge. Moreover, altering the electronic structure of the catalyst and structural engineering of the materials provide a new direction for enhancing the OER. Herein, we have successfully synthesized Fe and Co incorporated MoS2 catalysts which show improved catalytic activity for OER when compared with MoS2, Fe-MoS2, and Co-MoS2. It was found that at an optimal ratio of Fe and Co, the electronic and structural modification of MoS2 occurs which leads to change in orientation and thereby enhances the catalytic active sites on the edges which are more exposed for OER. The nanocomposites have been well characterized by XRD, Elemental Mapping, TEM and HR-TEM analysis. Among all the ratios, Fe0.10Co0.90-MoS2 exhibits a much smaller onset with better catalytic current density. The remarkable catalytic activity is mainly attributed to the synergistic effect from the Fe and Co. Most importantly, our work provides an important insight in altering the electronic structure of MoS2 based materials by incorporating promoters such as Co and Fe in an optimal amount, which enhances OER activity.