The Sr2Fe1.5Mo0.5O6−δ (SFMO) perovskite exhibits promising performance as a solid oxide fuel cell (SOFC) anode for hydrogen fuel but demonstrates limited catalytic activity with hydrocarbon fuels. To address this limitation, a Sr2Fe1.3Ni0.2Mo0.5O6−δ (SFNMO) perovskite was developed via B-site Ni substitution, and its in-situ exsolution behavior and methane electrooxidation performance were systematically investigated. Combined XRD, SEM, and TEM-EDS analyses reveal the in-situ exsolution of Ni-rich Ni-Fe alloy nanoparticles from the SFNMO matrix under a hydrogen atmosphere. A symmetrical SOFC employing Gd0.1Ce0.9O2−δ (GDC) electrolyte and SFNMO electrodes achieved an initial maximum power density of 82 mW cm−2 in wet methane fuel at 800 °C, which represents an approximately 33% improvement over the symmetrical cell with SFMO electrode (61 mW cm−2). Remarkably, the cell maintained stable operation under constant current for 50 h in methane fuel, with the peak power density further increasing to 113 mW cm−2, demonstrating the excellent catalytic activity of the in-situ exsolved Ni-Fe nanoparticles for methane conversion.