The aims of this study are to synthesize porous nanostars (PNSs) composed of a Pt, Pd, or Pt–Pd alloy shell supported on a gold core and to demonstrate their improved electrocatalytic activity towards the oxygen reduction reaction (ORR). The catalysts contain homogeneous, porous, star‐shaped, large‐sized structures (50 or 20 nm on average), with a covering pattern of Pt or Pt–Pd alloy nanodendritic particles of up to 5 nm. The synthesized PNS catalysts catalyze the ORR effectively, offering high performance in terms of Pt group metals mass‐specific activity, electrochemically active surface area (ECSA), specific ECSA, and specific activity, with high half‐wave potential values (0.93–0.96 V).