Recently, a primary challenge hindering the commercialization of direct fuel cells is the development of robust nonplatinum electrocatalysts to improve the performance of the oxygen reduction reaction (ORR) and formic acid oxidation reaction (FAOR). In this paper, polyol reduction and high temperature calcination carbonization were used to improve the conductivity of the catalyst by the modification of rare earth Ce. Pd has similar properties to Pt, with one-fifth of the properties of Pt, and the rare earth elements have low electronegativity, making it easy to supply electrons and fill Pd's antibonding orbitals. Rare Earth elements effectively enhance ORR activity by making palladium more metallic. The high-activity, low-cost and high-stability electrocatalytic ORR and FAOR catalysts PdxCe/C were designed. After a series of testing methods, the physical properties and electrochemical properties were characterized, and the optimum structure and composition were selected. The stability of the catalyst with the optimal structure and composition was assessed, and it was applied to various composite batteries to verify its capability in practical application.