Pt-based hollow nanoparticles were investigated as electrocatalysts for the oxygen reduction reaction (ORR) in acid electrolyte. The electrocatalysts were synthesized via Ni or Co diffusion/dissolution, induced by the vacancy-mediated Kirkendall effect, during electrochemical potential cycling of Ni@Pt and Co@Pt core-shell nanoparticles in acid media. The nanoparticles were characterized by high resolution transmission electron microscopy, in situ X-ray absorption spectroscopy and X-ray diffraction measurements. The results show substantial differences in nanoparticle structure/composition and in the activity for the ORR, depending on the nature of the non-noble metal in the nanoparticle core. The Pt hollow nanostructures showed higher specific catalytic activity than that of the state-of-the-art Pt/C electrocatalyst. This was attributed to three main effects: (i) hollow-induced lattice contraction in the multilayer Pt shells, (ii) mismatch-induced lattice contraction of the thick Pt shell by the remaining Ni or Co atoms and (iii) a ligand effect, due to the electronic interaction of Pt with the remaining Ni or Co atoms in the Pt multilayers of the hollow structure. These three effects caused a Pt d-band center down-shift, which decreased the adsorption strength of oxygenated reaction intermediates and spectators, thus increasing the ORR rate. (C) 2013 Elsevier B.V. All rights reserved.