The overpotential produced during the electrochemical reduction of O 2 on the surface of traditional Pt electrocatalyst is as high as 300-400 mV, so the performance of fuel cell is decreased. Therefore, the research on novel cathode electrocatalyst in order to improve catalytic activity and decrease overpotential of O 2 cathode is becoming the focus. The state of art of development and research on cathode electrocatalysts, including the preparation, activity and life, are introduced in detail. The mechanisms related on improving the activity of novel electrocatalysts, such as the minimum interatomic spacing theory, the Raney effect and the surface electronic structure theory, are also concluded and analyzed.