The construction of exceptionally multifunctional electrocatalysts is essential for various applications, but it poses significant challenges. A novel electrocatalyst, denoted as Ru/N, S-MoO2/CNTs, was successfully synthesized using a combination of mechano-grinding and hydrothermal/calcination techniques. The Ru/N, S-MoO2/CNTs demonstrates ultrasmall overpotentials of 12 and 163 mV in NF, 51 and 167 mV in GCE, and 54 and 173 mV in CC for HER and OER, respectively, at a current density of 10 mA/cm2 in alkaline medium. To accomplish electrocatalytic OWS, a current density of 10 mA/cm2 can be obtained by using a cell voltage of 1.446 V. Theoretical studies demonstrated that the inclusion of Ru, N, and S triggers a change in the composition of MoO2; produces oxygen vacancies; and forms Ru, N, and S-oxygen-Mo catalytic centers. The combination of Ru, N, and S nanoclusters; Ru, N, and S-oxygen-Mo catalytic centers; and OVs-enriched MoO2 would position it among the top electrocatalysts.