Palladium-based catalysts for electrochemical reduction of oxygen have received increasing attention as potential replacement for platinum-based materials in the fuel cells. This Review summarises the research conducted with nanostructured palladium catalysts, including thin nanostructured films and Pd nanoparticles on various carbon and non-carbon supports. The mechanism of oxygen reduction on palladium is described and the effect of the particle size and shape on the electrocatalytic activity is emphasised. The role of the support material and additives on the oxygen reduction activity of Pd nanoparticles is also discussed. The electrocatalytic activity of Pd-based catalysts is evaluated in terms of specific activity and mass activity. The application of supported Pd nanoparticles as cathode catalysts for low-temperature fuel cells is highlighted. Some insights into the remaining challenges and directions for further development of Pd-based oxygen reduction electrocatalysts are provided. (C) 2016 Elsevier B.V. All rights reserved.