In this chapter, the oxygen reduction reaction (ORR), which is one of the most important reactions in energy conversion systems such as fuel cells, including its reaction kinetics, is presented. Recent developments in electrocatalysts for ORR in fuel cells, including low and non-Pt electrocatalysts, metal oxides, transition metal macrocycles and chalgogenides, are discussed. Understanding of the interdependence of size, shape and activity of the electrocatalysts is evaluated. The recent development of ORR electrocatalysts with novel nanostructures is also reported. The mechanism catalysed by these electrocatalysts is presented. Finally, the perspectives of future trends for ORR are discussed.