Addressing the demand for versatile catalysts in regenerative fuel cells, this research delves into the stability and active degradation mechanism of a synthesized Pd/CNT catalyst during ethanol oxidation, employing an in situ Raman method. This innovative methodology unveils profound insights into the variations in the catalyst's behavior under different battery polarities. Notably, the catalyst exhibits enhanced stability and ethanol catalysis, maintaining a notable efficiency up to 150 cycles following high-potential scanning. The investigation reveals a potential-dependent characteristic in the Raman signal of *CO 2 − , establishing a direct correlation with the current density on Pd/CNT. These insights indicate the considerable potential of Pd/CNT in the advancement of efficient and resilient bifunctional oxygen electrode catalysts.