In the past decade, polymer electrolyte membrane fuels (PEMFCs) have been evaluated for both automotive and stationary applications. One of the main obstacles for large scale commercialization of this technology is related to the sluggish oxygen reduction reaction that takes place on the cathode side of fuel cell. Consequently, ongoing research efforts are focused on the design of cathode materials that could improve the kinetics and durability. Majority of these efforts rely on novel synthetic approaches that provide control over the structure, size, shape and composition of catalytically active materials. This article highlights the most recent advances that have been made to tailor critical parameters of the nanoscale materials in order to achieve more efficient performance of the oxygen reduction reaction (ORR).