Stable, durable carbon supported catalyst composition for fuel cell

A carbon supported catalyst composition for solid polymer electrolyte fuel cells is disclosed that shows a high mass activity and favorable stability and durability. The catalyst composition comprises an intermetallic phase or alloy comprising Pt and a metal selected from the group consisting of Nb, Ta, V and Mo, and comprises an oxide of the metal. The carbon supported catalyst composition can be prepared at relatively low temperature either by first depositing and heating an oxide precursor of the metal on a suitable carbon to make a hybrid support, and then depositing and heating a Pt precursor on the hybrid support, or by depositing both an oxide precursor of the metal and a Pt precursor on a suitable carbon support, and directly heating to a final temperature.