Ternary nickel cobaltite nanostructures have found their application in many optoelectronic devices due to their excellent electronic and catalytic properties. In this review paper, we will discuss two synthetic strategies for ternary nickel cobaltite nanostructures: nickel cobaltite nanopowders and conductive substrate supported nickel cobaltite, respectively. Then selected examples utilizing ternary nickel cobaltite nanostructures as building blocks for solar cells, photodetectors and water oxidation will be highlighted. In the end, an outlook and conclusion will be given about the future research and development in this field.