Developing efficient and durable Pt-based electrocatalysts for oxygen reduction reaction (ORR) is critical for the practical application of fuel cells but still remains challenge at present. Here we successfully synthesized a series of ternary L10-PtCoxFe1-x (x=0.33, 0.50 and 0.67) intermetallic nanoparticles (NPs) supported on reduced graphene oxide for ORR catalysis. L10-PtCo0.50Fe0.50 exhibits the highest mass activity (MA) of 0.93 A mg−1Pt at 0.9 V (1.82 times the corresponding binary L10-PtCo intermetallics) and minimal activity loss (24.73 % loss in MA) after 30,000 potential cycles. By Density Functional Theory calculations, the excellent performance of ternary L10-PtCo0.50Fe0.50 can be ascribed to: (1) more efficient electronic structure regulation caused by dual-element driven electron transfer, which leads to more electron accumulation on Pt and weakens the over-binding of oxygen-containing species, (2) the unique two-center bridge pattern of O2 adsorption over Pt-Fe site leads to ORR proceeding via. the dissociative mechanism, avoiding the formation of OOH*.