Well-defined polyhedral Pd-Pt nanocrystals anchored on the reduced graphene oxide (rGO) are successfully synthesized via a facile and efficient surfactant-free solvothermal route. The formation mechanism is carefully illustrated via tuning the surface state of rGO substrate and the Pd/Pt ratio in Pd-Pt nanocrystals. rGO substrates with continuous smooth surface, which can offer continuous 2D larger π electrons, play important roles in the formation of the well-defined polyhedral Pd-Pt nanocrystals. Suitable Pd/Pt ratio, which determines the affinity between the rGO substrate and polyhedral Pd-Pt nanocrystals, is another important factor for the formation of polyhedral Pd-Pt nanocrystals. Due to the well-defined surface of Pd-Pt nanocrystals, rich corners and edges from polyhedral structure, as well as more exposed (111) facets, the low-Pt polyhedral Pd-Pt nanocrystals anchored on rGO, used as electrocatalysts, exhibit high electrocatalytic activity for oxygen reduction reaction with excellent methanol tolerance.