Pt, PtCo, and PtNi electrocatalysts were prepared by mechanical alloying, and their activity for oxygen reduction reaction in 0.5 M KOH was investigated using cyclic voltammetry (CV) and rotating ring-disk electrode techniques. Electrocatalysts were characterized by X-ray diffraction, scanning electron microscopy, transmission electron microscopy, and energy-dispersive X-ray spectroscopy. Physical characterization showed that all electrocatalysts are alloys in the form of agglomerated particles that consist of nanocrystals. To perform an electrocatalytic evaluation, polarization curves, Koutecky-Levich and Tafel plots were obtained to calculate the kinetic parameters. Additionally, the molar fraction of the generated HO2 (-) and the number of transferred electrons were determined. PtCo alloy showed a better performance for oxygen reduction reaction with a higher exchange current density, a lower overpotential, as well as higher specific and mass activities due to a synergistic effect between Pt and Co atoms as a result of the alloying process.