A 20 wt % Pt/C is fabricated and characterized for use as the cathode catalyst in a polymer electrolyte membrane fuel cell (PEMFC). By using the polyol method, the fabrication process is optimized by modifying the carbon addition sequence and precursor mixing conditions. The crystallographic structure, particle size, dispersion, and activity toward oxygen reduction of the as-prepared catalysts are compared with those of commercial Pt/C catalysts. The most effective catalyst is obtained by ultrasonic treatment of ethylene glycol-carbon mixture and immediate mixing of this mixture with a Pt precursor at the beginning of the synthesis. The catalyst exhibits very uniform particle size distribution without agglomeration. The mass activities of the as-prepared catalyst are 13.4 mA/$mg_{Pt}$ and 51.0 mA/$mg_{Pt}$ at 0.9 V and 0.85 V, respectively, which are about 1.7 times higher than those of commercial catalysts.