PtIr/C electrocatalyst with the metal phase uniformly distributed over the carbon support surface and the average size of PtIr nanoparticles of 5.9 nm is synthesized by electrochemical dispersion of Pt90Ir10 alloy under the action of alternating pulse current. It is shown that the presence of iridium within the composition of a Pt/C catalyst lowers down the overpotential of CO oxidation and increases catalyst’s specific activity with respect to electrochemical oxidation of ethanol.