Polymer electrolyte membrane fuel cell (PEMFC) electrodes were platinized by modulated pulse current electrodeposition. The aim of this study is to look for a way that keeps the advantages but circumvents the disadvantages of electrodeposting Pt for PEMFC electrodes. The capacitance effect of the double layer on the wave pattern of the pulse current was fully considered when choosing the current parameters. An uncatalyzed carbon electrode, on which a layer of Nafion-bonded carbon (NBC) was dispersed in advance, served as a substrate for electrodeposition. The platinized electrode by electrodeposition was assessed by the techniques of cyclic voltammetry, linear-sweep voltammetry, X-ray diffraction, transfer electron microscopy, and so on. The preliminary results show the following: (1) Pt deposition current efficiency in well-modulated pulse current electrodeposition has been markedly improved even to as high as 69.9% compared with 13% in the direct current electrodeposition. (2) It is difficult at the present time to get an electrode with high Pt loadings and good Pt dispersion by pulse electrodeposition because the hydrogen evolution is unavoidable. (3) It is uncertain for Pt deposition current efficiency even though the electrodeposition was conducted under the exact same technique because of the erratic generation and breaking of hydrogen bubbles.