In this study a three-phase homogeneous model was developed to simulate the performance of the molten carbonate fuel cell (MCFC) cathode. The homogeneous model is based on volume averaging of different variables in the three phases over a small volume element. This approach can be used to model porous electrodes as it represents the real system much better than the conventional agglomerate model. Using the homogeneous model the polarization characteristics of the MCFC cathode was studied under different operating conditions.