For the commercialization of polymer electrolyte membrane fuel cell (PEMFC), some serious problems such as the decrease of platinum use as catalysts and a larger overpotential of oxygen reduction reaction (ORR) at cathode must be solved. In this study, 20%Pt/C and 20%PtCo/C catalysts for the cathode of PEMFC were synthesized from the chemical reduction method and evaluated using an electrochemical measurement. The ORR activity of synthesized 20%Pt/C and 20%PtCo/C had higher than that of the 20%Pt/C on the market. The synthesized 20%PtCo/C with the cobalt concentration (Pt:Co atomic ratio) from 5 to 20% showed the highest ORR activity.