Preparation of Pt-Ru-Ir nanoparticle catalysts on carbon black by a novel vapor deposition method is reported. Particle size as assessed by transmission electron microscopy is ca. 2.5 nm with narrow distribution. Moreover, they are homogeneously dispersed on the substrate. The electrocatalytic activity of the particles toward methanol electro-oxidation was investigated by cyclic voltammetry, chronoamperometry at constant potential, and adsorbed CO-stripping voltammetry. It was found that these catalysts possess outstanding activity for methanol electro-oxidation. This is over one order of magnitude higher than in state of the art catalysts. The novel catalysts have the potential to bear significant performance improvement of direct methanol fuel cells. Fuel cells bring the promise of clean electrical energy generation with high efficiency. The polymer electrolyte fuel cell operating at relatively low temperature ͑typically from 25 to 130°C͒ with liquid methanol feed ͑direct methanol fuel cell, DMFC͒ is particularly promising for mobile applications, such as cars and mobile telephones. One major technical problem affecting up-to-date DMFCs is the low activity of the anode catalyst. Thus, in order to attain adequate power density and efficiency, a burdensome amount of catalyst is required. The latter is made out of metals such as platinum and ruthenium that are also very costly. Methanol electro-oxidation at Pt-Ru catalysts proceeds through several elementary steps. At first, methanol molecules are dehydrogenated, thereby producing organic fragments, mainly carbon monoxide ͑CO͒, that chemisorb and build up at the catalyst surface. CO fragments are subsequently oxidized to CO 2 by adjacent hydroxyl groups ͑-OH͒ that also form at the catalyst surface in the presence of water.1 Finally, CO 2 is liberated, thereby allowing turnover of the catalytic sites. To some extent, depending on the anodic potential, methanol may not be fully dehydrogenated to CO. In this case, further oxidation of the resulting dehydrogenation fragments generates formic acid or methylformate in place of CO 2 .2,3 Many investigators believe that methanol electro-oxidation occurs through a bi-functional mechanism: methanol molecules are adsorbed and dehydrogenated at Pt sites, whereas surface bonded-OH groups are preferentially formed at the Ru sites by water dissociation ͗PtCO ads + Ru − OH → Pt + Ru + CO 2 ↑ + H + + 1e − ͘ A good review on the bifunctional mechanism can be found in Ref. 1. Other investigations, however, suggest that the main role of ruthenium in the alloyed catalyst is a modification in the platinum electronic structure, which causes significant weakening of the CO chemisorption bond at Pt sites thereby enhancing the turnover rate. 4 Whether the promoting effect of Ru can be ascribable to a bifunctional mechanism or to weakening of the Pt-CO chemisorption bond, it is clear that the most effective catalysts for methanol electro-oxidation must be based on Pt-Ru combinations. Despite considerable advance in development of these ele...