The effect of KOH electrolyte concentration on low-temperature electrochemical properties of LaNi5 alloy electrodes at 233 K was studied. The results indicated that the electrolyte concentration had great influence on discharge capacity and discharge voltage plateau of LaNi5 alloy electrode at 233 K, and the highest discharge capacity and discharge voltage plateau were both obtained at 6 mol/L KOH. When the KOH electrolyte concentration changed from 5 to 9 mol/L at 233 K, the high rate discharge ability (HRD) had the same change tendency as the diffusion coefficient, but the exchange current density did not change significantly, which implied that hydrogen diffusion was the control step at low temperature 233 K for discharge process of LaNi5 alloy electrode.