Preferential oxidation of CO (PROX) is an important reaction for removing small amounts of CO to a parts-per-million level from the hydrogen-rich stream, which will be ultimately supplied as a fuel to polymer−electrolyte membrane fuel cells. The key to the application of PROX is to develop a highly active and selective catalyst that operates well in a wide temperature window (e.g., 80−180°C) and has good resistance to CO 2 and steam. In the past decades, various catalyst formulations have been developed, among which platinum group metal catalysts, including Pt, Ru, and Irin particular, those modified with promoters such as alkali metals and reducible metal oxideshave received a great deal of attention for their significantly improved catalytic activities in the low-temperature range. In this minireview, the recent advances of the platinum group metal catalysts for the PROX reaction are summarized, including performances of unpromoted and promoted catalysts, reaction mechanisms, and kinetics. In addition, the important roles of hydroxyl groups in the PROX reaction are also discussed.