The advancement of highly efficient and enduring platinum (Pt)-based electrocatalysts for the oxygen reduction reaction (ORR) is a critical determinant to enable broad utilization of clean energy conversion technologies. Pt-based intermetallic electrocatalysts offer durability and superior ORR activity over their traditional analogues due to their definite stoichiometry, ordered and extended structures, and favourable enthalpy of formation. With the advent in new synthetic methods, Pt-based intermetallic nanoparticles as a new class of advanced electrocatalysts have been studied extensively in recent years. This review discusses the preparation principles, representative preparation methods of Pt-based intermetallics and their applications in the ORR. Our review is focused on L10 Pt-based intermetallics which have gained tremendous interest recently due to their larger surface strain and enhanced M(3d)-Pt(5d) orbital coupling, particularly in the crystallographic c-axis direction. Additionally, we discuss future research directions to further improve the efficiency of Pt-based intermetallic electrocatalysts with the intention of stimulating increased research ventures in this domain.