An atomically dispersed single atom catalyst based on rare-earth metal, Cerium embedded into the porous N-doped carbon (Ce-N-C), has been synthesized by using metal-organic framework method. The Ce-N-C catalyst have been physiochemically and electrochemically characterized in detail. Transmission electron microscope studies revealed atomically dispersed Ce atoms on the N-doped carbon support. The electrochemical oxygen reduction reaction (ORR) kinetics of Ce-N-C-3 catalyst revealed an admirable activity with a half-wave potential of 0.89 V, nearly equal to state-of-the-art Pt/C catalyst. The K-L plots and RRDE measurements revealed a nearly direct 4 electron reduction of O2 to H2O by Ce-N-C-3 catalyst. In addition, the chronoamperometry studies with a simulated H2O2 environments clearly revealed the significance of Ce3+/Ce4+ redox couple in deactivating hydrogen peroxide and/or hydroperoxide radicals. The commendable ORR activity, stability and peroxide resistance of Ce-N-C-3 catalysts is credited to the high surface area, atomically dispersed Ce atoms, formation of Ce-N4-C active sites in the catalysts, evidenced from the XPS analysis, in addition to the significance of Ce3+/Ce4+ redox couple in the catalyst. Most importantly, chronoamperometric studies revealed clear evidence of Ce3+/Ce4+ couple significance, helping in effectively mitigating the peroxide related detrimental effects to the ORR catalyst.