A Zr0.9Ti0.1Ni1.1Co0.1Mn0.6V0.2 alloy electrode was immersed in a boiling 6 M KOH solution for a short period of time, and the effect on electrochemical and physicochemical properties of the alloy electrode was investigated. As a result, charge-discharge characteristics of the alloy electrode were found to be greatly improved with increasing immersion period in the alkaline solution. Such effects are discussed based on the change in chemical composition of the surface and bulk of alloy powders.