In this work, sodium tetrahydroxoborate (NaB(OH)4) that is the main product of the hydrolysis reaction of NaBH4 with a relatively small excess of water is studied in the reaction with sodium borohydride in the presence of a catalyst and without it. It was found, that mixtures consisting of NaB(OH)4 and NaBH4 begin to melt at 70 °C with the formation of a liquid phase without destroying the close coordination environment for both types of boron atoms. When a cobalt-based catalyst is added to mixtures, significant hydrogen evolution is observed. The resulting products are hydrogen and amorphous borates with a gross composition close to [NaBO2·0.75H2O]. Carrying out the catalytic hydrolysis of borohydride in the system of initial composition H2O:NaBH4:catalyst under the conditions same to that the catalytic reaction of NaBH4 and NaB(OH)4 was observed is a promising way to produce H2 since it provides a high yield of hydrogen at small amounts of catalyst and atmospheric pressure. Catalytic hydrolysis carried out in the temperature range 80–120 °C with initial molar ratios H2O:NaBH4 = 3 and 2.7, and atmospheric pressure demonstrates a hydrogen yield of 8.3 wt% and NaBH4 conversion of 96 % at only 2.3 wt% of CoCl2 as catalyst. Since the resulting final composition of borates is close to [NaBO2·0.66H2O], the potential mass yield of hydrogen in this process can reach 9.3 wt%.