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Pt3M (M: Co, Ni and Fe) bimetallic alloy nanoclusters were synthesized by a novel and simple chemical reduction approach, and employed as the promising electrocatalyst to accelerate the kinetics of oxygen reduction reaction (ORR) for polymer electrolyte membrane fuel cells. From XRD, the positive shift of diffraction angle confirms the alloy formation between Pt and M and the elemental composition was confirmed by energy dispersive X-ray spectroscopy analysis. The nanocluster morphology and particle size was determined using scanning and transmission electron microscopy analysis. The ORR kinetic parameters for Pt-M electrocatalysts were calculated and compared with reported Pt/C catalysts. Among the Pt-M electrocatalysts, Pt-Co was found to be the most efficient catalyst having the higher mass and specific activity (at 0.9 V vs. RHE) of 0.44 mA/μg and 0.69 mA/cm2, respectively. The accelerated durability test reveals that the Pt-M bimetallic alloy nanoclusters retain appreciable surface area and mass activity after 8000 potential cycles confirms good long-term durability, and also competing with the reported benchmark ORR catalysts.