The invention relates to a high-performance fuel cell catalyst and a preparation method thereof. The high-performance fuel cell catalyst is composed of metal and metal oxide, and the metal oxide is positioned at edges and apex corners, having low coordination number, of surfaces of metal nanoparticles. The preparation method of the fuel cell catalyst of a novel structure is simple, convenient to operate and free of environment pollution; the fuel cell catalyst prepared by the method has high oxygen reduction reaction activity and stability and is suitable for fuel cell electrodes and especially suitable for electrolyte membrane fuel cell electrodes.