The oxygen reduction reaction (ORR) on platinum in perchloric acid is studied under transient conditions at stationary and non-stationary electrodes. Only under these conditions, the presence of a fast initial chemical step in the mechanism, giving rise to a soluble, short-lived intermediate proposed to be the HO 2 * radical, is revealed, by comparing experimental and calculated curves by numerical simulations of simple reaction schemes. The formation of this species and the existence of a zero-current cycle involving it would be the main reasons for the lack of reduction currents at potentials higher than the ORR reaction onset. Additionally, regardless of the exact subsequent steps after the initial chemical reaction, if HO 2 * is generated it would disproportionate to hydrogen peroxide, which implies that both species would be always produced during the ORR on Pt. The presence of HO 2 * and H 2 O 2 would profoundly affect the durability of Pt-based catalysts and should be taken into account in the design of materials for fuel cell cathodes.