Compared to Pt nanoparticles, Pt metal nanotubes (NTs) with hollow nanostructures and ultrathin side walls can greatly increase electrocatalytic activity and stability in oxygen reduction reaction (ORR). In this work, the large-diameter ternary TePtCo NT with a hollow and hierarchical structure is successfully prepared by a simple and cost-effective replacement way. The formed TePtCo NT not only proves the high Pt utilization with large surface area, but also improves the proton transfer in the ORR process. As expected, its specific activity and mass activity at 0.9 V (vs. RHE) are 4.6 folds and 3.9 folds over that of the commercial Pt/C catalyst, respectively. Moreover, it also shows an excellent catalytic stability, much higher than that of Pt/C. The density functional theory (DFT) calculation results reveal that Pt alloying with Te and Co facilitates the breakage of the O-O bond and weakens the adsorption energy of hydroxyl, subsequently enhancing the ORR performance.