We propose a new design for electrocatalysts consisting of two electrocatalysts (platinum and iron oxide) that are deposited on the surfaces of an oxidized graphene substrate. This design is based on a simple structure where the catalysts were deposited separately on both sides of oxidized graphene substrate; while the iron oxide precipitated out of the etching solution on the bottom-side, the surface of the oxidized graphene substrate was decorated with platinum using the atomic layer deposition technique. The Fe2O3-decorated CVD-graphene composite exhibited better hydrogen electrooxidation performance (area-normalized electrode resistance (ANR) of ~600 Ω·cm−2) and superior stability in comparison with bare-graphene samples (ANR of ~5800 Ω·cm−2). Electrochemical impedance measurements in humidified hydrogen at 240 °C for (Fe2O3|Graphene|Platinum) electrodes show ANR of ~0.06 Ω·cm−2 for a platinum loading of ~60 µgPt·cm−2 and Fe2O3 loading of ~2.4 µgFe·cm−2, resulting in an outstanding mass normalized activity of almost 280 S·mgPt−1, exceeding even state-of-the-art electrodes. This ANR value is ~30% lower than the charge transfer resistance of the same electrode composition in the absence of Fe2O3 nanoparticles. Detailed study of the Fe2O3 electrocatalytic properties reveals a significant improvement in the electrode’s activity and performance stability with the addition of iron ions to the platinum-decorated oxidized graphene cathodes, indicating that these hybrid (Fe2O3|Graphene|Platinum) materials may serve as highly efficient catalysts for solid acid fuel cells and beyond.