jats:pFuel cells, converting chemical energy from fuels into electricity directly without the need for combustion, are promising energy conversion devices for their potential applications as environmentally friendly, energy efficient power sources. However, to take fuel cell technology forward towards commercialization, we need to achieve further improvements in electrocatalyst technology, which can play an extremely important role in essentially determining cost-effectiveness, performance, and durability. In particular, platinum- (Pt-) based electrocatalyst approaches have been extensively investigated and actively pursued to meet those demands as an ideal fuel cell catalyst due to their most outstanding activity for both cathode oxygen reduction reactions and anode fuel oxidation reactions. In this review, we will address important issues and recent progress in the development of Pt-based catalysts, their synthesis, and characterization. We will also review snapshots of research that are focused on essential dynamics aspects of electrocatalytic reactions, such as the shape effects on the catalytic activity of Pt-based nanostructures, the relationships between structural morphology of Pt-based nanostructures and electrochemical reactions on both cathode and anode electrodes, and the effects of composition and electronic structure of Pt-based catalysts on electrochemical reaction properties of fuel cells.</jats:p>