Interatomic potentials for the Co–V binary alloy system has been developed based on the second nearest-neighbor modified embedded-atom method (2NN MEAM) interatomic potential formalism. Newly developed potentials reproduce various structural and thermodynamic properties of the binary alloys in reasonable agreement with experiments, first-principles calculations, and CALPHAD-type thermodynamic assessments. It is emphasized that this potential can serve as groundwork for atomistic studies on the design of highly efficient trimetallic noble metal catalysts.