Disclosed are a method of fabricating a binary alloy nanostructure by using metal oxides, metal substances or metal halides of metal elements used to form a binary alloy and/or binary alloy substances as a precursor through a vapor phase synthesis method and a binary alloy nanostructure fabricated by the same. More particularly, the present invention provides a method of fabricating a binary alloy nanowire or nanobelt which comprises placing a precursor on the front part of a reaction furnace and a substrate on the rear part of the furnace, and heat treating both of them under inert gas atmosphere to produce the nanowire or nanobelt and, in addition, a binary alloy nanowire or nanobelt fabricated by the method according to the present invention.