Transmission electron microscopy(TEM) investigation on the phase decomposition of B2-ordered (Ni,Co)Al supersaturated with Ni and Co has revealed the precipitation of $(Ni,Co)_2Al$ which has not been expected from the reported equilibrium phase diagram. The $(Ni,Co)_2Al$ phase has a hexagonal struture and takes a rod-like shape with the long axis of the rod parallel to the <111> directions of the B2 matrix. By aging at temperatures below 873 K, a long period Superlattice Structure appears in the hexagonal $(Ni,Co)_2Al$ Phase. The orientation relationship between the $(Ni,Co)_2Al$ Precipitates and the B2-(Ni,Co)Al matrix is found to be$(0001)_p$ // $(111)_{B2}$ and $[ar{1}2ar{1}0]_P$ // $[ar{1}10]_{B2}$, Where the suffix p and B2 denote the $(Ni,Co)_2Al$ precipitate and the B2-(Ni,Co)Al matrix, respectively. (Ni,Co)Al hardens appreciably by the fine precipitation of the $(Ni,Co)_2Al$ phase. Energy dispersive spectroscopy was used to analyze the compositions of each phase formed in B2-(Ni,Co)Al.