The invention relates to a novel Pt-Co/NC catalyst and a preparation method and application thereof. In the Pt-Co/NC catalyst, nitrogen-doped carbon is used as a carrier, metal Co (cobalt) is used asa cocatalyst, and precious metal Pt (platinum) is used as a main catalyst. In a fuel cell, a catalyst in a membrane electrode is easily in contact with a reactant oxygen, and the ORR activity and durability are improved under the synergistic catalytic action of platinum-cobalt. Main active components of the catalyst are Pt and Co, the catalyst is prepared by means of coprecipitation, high-temperature roasting, solvent evaporation and the like, and the preparation method is simple and convenient to operate. According to the Pt-Co/NC catalyst, porous carbon NC obtained after acid etching provides a very good loading surface and pore channels for metal particles, and platinum metal can be uniformly distributed. Nitrogen-doped carbon can activate ORR (oxygen reduction) reaction, indirectly plays a role in replacing rare precious metal platinum, is beneficial to manufacturing low-price fuel cells with low manufacturing environment load, and is more beneficial to promoting global energy distribution and development under the condition of not being controlled by resources.