The invention relates to a preparation method of a 
proton exchange membrane fuel 
cell carbon-supported 
metal electrocatalyst. The 
active component of the 
electrocatalyst is Pt-Ag-Co, an atom ratio of Pt:Ag:Co is 20:1:0.01-1:20:0.01, and the 
mass percentage content of the 
active component is 10-50%. The preparation method comprises the following steps: 1, dissolving processed carbon 
powder in an 
alcohol solvent, carrying out ultrasonic treatment to obtain a uniform 
slurry, adding an Ag and Co precursor solution to the 
slurry, and mixing; 2, reducing a 
mixed solution obtained in step 1 by 
sodium borohydride for 10-24h, washing, and 
drying to obtain Ag-Co / C; 3, dissolving the Ag-Co / C by 
alcohol, and carrying out ultrasonic treatment to obtain a 
slurry; and 4, 
processing a Pt precursor through an 
in situ chemical reduction homogeneous precipitation process to prepare complexing ions, 
processing to prepare a 
colloid, and carrying out reduction deposition on the 
colloid in the slurry obtained in step 3 by using a 
reducing agent formaldehyde in order to prepare the Pt-Ag-Co / C catalyst. The method has the advantages of simple process, low cost and easy enlarged production, and the catalyst has good 
catalysis activity, and has better durability than commercial Pt / C electrocatalysts and binary Pt-Ag / C electrocatalysts.