The present invention discloses a method for preparing platinum (Pt) based nano-size catalyst which is useful as an electrode catalyst of a direct methanol fuel cell (DMFC). This method includes the implementation of a reduction reaction of a platinum precursor and an optional ad-metal precursor with a reducing agent in a solvent and in the presence of a stabilizer to form a suspension containing colloidal particles of platinum or platinum/ad-metal; mixing the suspension with a co-solvent; subjecting the resultant mixture to a centrifugal treatment to form a platinum or platinum/ad-metal colloidal particle portion and a liquid portion, repeating the co-solvent mixing and centrifugal treatment to the platinum or platinum/ad-metal colloidal particle portion until the resultant liquid portion no longer contains the product of the reduction reaction; and drying the resultant platinum or platinum/ad-metal colloidal particle portion to obtain a platinum based nano-size catalyst.