Pt and Pt-Co supported on MWCNTs were synthesized by the impregnation method using NaBH4 as the reducing agent. The effect of varying NaBH4 concentration on particle size, morphology and chemical composition of Pt-Co/MWCNTs was studied. A homogeneous distribution of Pt-Co nanodeposits with particle size of 2-5 nm was attained in TEM images at Pt-Co/MWCNTs "x70" powder. EDX analysis confirmed the reduction of higher amount of Co in Pt-Co/MWCNTs "x40" electrocatalyst. The electrochemical activity of Pt/MWCNTs and Pt-Co/MWCNTs electrocatalysts was examined towards methanol oxidation reaction in 0.5 M H2SO4 solution by employing the cyclic voltammetry and the chronoamperometry techniques. The lowest onset potential and the highest oxidation current density were gained at Pt-Co/MWCNTs "x70" electrocatalyst. Its good stability over the long-term performance study elects it as a promising candidate for the DMFCs applications. (C) 2011 Elsevier B.V. All rights reserved.