The invention discloses a tripod shaped platinum palladium copper alloy catalyst capable of catalyzing oxygen reduction reaction, and a preparation method thereof. The preparation method comprises following steps: a sodium tetrachloropalladate solution, a chloroplatinic acid solution, and a copper chloride solution with concentrations ranging from 5 to 50mM are prepared respectively, a hydrochloric acid solution with a concentration ranging from 1 to 10M, and an ascorbic acid solution with a concentration ranging from 0.05 to 0.2M are prepared respectively; 4.5ml of the sodium tetrachloropalladate solution, 4.5ml of the chloroplatinic acid solution, and 4.5ml of the copper chloride solution are mixed, 0.1 to 1ml of the hydrochloric acid solution is added, 0.1 to 1g of potassium bromide, and 0.01 to 0.1g of F127 are added, and an obtained mixture is mixed to be uniform; 1 to 5ml of the ascorbic acid solution is added; after solution full mixing, an obtained mixed product is heated to 50to 150 DEG C in an oil bath pan, reaction is carried out for 1 to 10h, and washing, centrifugation, and drying are carried out so as to obtain the tripod shaped platinum palladium copper alloy catalyst. The preparation method is simple; the reaction time is short; the material prepared at normal temperature under normal pressure possesses excellent electrochemical oxidation-reduction ability.