A new method for preparing highly stable Pt–Ru/C catalysts at low temperature is reported. Pt–Ru supported on high surface carbon was prepared from Pt(NH3)4Cl2, RuNO(NO3)x(OH)y and borohydride as a reducing agent. Simultaneous reduction of both metals was done by heat treatment and small and homogeneously dispersed catalyst particles were obtained with increased stability, as observed from solubility tests. Catalysis, XRD and TG data gave clear evidence of the different chemical states between the material produced and the commercially available sample. The electrochemical measurements showed that the novel catalysts have a performance similar to that of E-Tek samples.