We demonstrate the synthesis of a core shell catalyst consisting of a Pt monolayer as the shell and porous/hollow Pd-Cu alloy nanoparticles as the core. The porous/hollow Pd-Cu nanoparticles were fabricated by selectively dissolving a less noble metal, Cu, using an electrochemical dealloying process. The Pt mass activity for the oxygen reduction reaction of a Pt monolayer deposited on such a porous core is 3.5 times higher than that of a Pt monolayer deposited on bulk Pd nanoparticles and 14 times higher than that of state-of-the-art Pt/C electrocatalysts.