The direct methanol fuel cell is the most interesting fuel cell for mobile applications. The state-of-the-art materials in a practical direct methanol fuel cell are Nafion 115 as membrane, carbon black as catalyst support and PtRu and Pt, respectively, as electrocatalyst. However, many materials were under investigation as alternatives to these materials in the last two decades. The most promising materials are reviewed in this paper. In addition, the catalyst preparation methods are summarized for chemical and electrochemical methods separately. Furthermore, a new electrodeposition technique with a gel-type electrolyte is highlighted. By the use of this method, the catalyst loading on the cathode side can be reduced by 25%.