Highly active PtSn/C catalyst was prepared by a polyol method. The catalyst was reduced in H-2/Ar atmosphere at 600 degreesC for 2 h in order to obtain different metallic phase. TEM images show uniform dispersion of spherical metal nanoparticles with average diameters of 1.8 and 3.9 nm for the as-prepared and treated catalysts, respectively. UV-vis spectrophotometry is employed to monitor the preparation process and the results indicate that Pt-Sn complex formed once the precursors of Pt and Sn were mixed together. The structure properties of the samples were characterized using X-ray diffraction. The results show that after reduction, the catalyst tends to form PtSn alloy. TPR experiment results show that Sn exists in multivalent state in the as-prepared sample while only zero-valence Sn was detected in the treated sample, while it could not be excluded that the multivalent tin existed in the treated sample. Cyclic voltammetry (CV) technique and single direct ethanol fuel cell (DEFC) tests indicate that the as-prepared catalyst possesses superior catalytic activity for ethanol oxidation to the treated sample. The results suggest that Pt and multivalent Sn are the active species for ethanol oxidation. (C) 2004 Elsevier B.V. All rights reserved.