The development of high performance electrode materials is currently one of the main activities in the field of the low temperature fuel cells, fuelled with H-2/CO or low molecular weight alcohols. A promising way to attain higher catalytic performance is to add a third element to the best binary catalysts actually used as anode and cathode materials. In Part I of this review an overview of the preparation and structural characteristics of Pt-based ternary catalysts was presented. This part of the review deals with the electrochemical properties of these catalysts regarding their CO tolerance and electrocatalytic activity for methanol and ethanol oxidation in the case of anode materials, and their activity for oxygen reduction and in fuel cell conditions when used as cathode materials. (C) 2007 Elsevier B.V. All rights reserved.