Direct ethanol fuel cells (DEFC) have garnered significant attention due to their high energy conversion efficiency, low noise levels, and environmental friendliness. However, these fuel cells still face challenges such as high catalyst costs, poor stability, and low catalytic activity. In this study, graphene oxide (GO) was utilized as support, glycol as reducing agent, and hexahydrate chloroplatinic acid as precursor to introduce non-noble metal iron (Fe). By adjusting the molar ratio of Pt to Fe, a series of PtFeₓ/GO (x=1/6, 1/5, 1/4, 1/3, 1/2, 1) binary alloy catalysts were synthesized using microwave-assisted heating, and nanocrystals were in situ loaded on GO support. Fe with small atomic radii was incorporated into the lattice of Pt, resulting in reduction in spacing between adjacent atoms and lattice contraction, forming Pt-Fe alloy. Electrochemical performance tests demonstrated that the catalyst specifically at x=1/3 exhibited optimal catalytic activity with an electrocatalytic active area of 69.84 m²/g, an oxidation peak current density of 858.42 A/g, and a smaller Tafel slope. Its 1100 s steady stable current was 194.80 A/g, with CO oxidation peak potential of 0.554 V, activation energy of 18.37 kJ/mol, and current density retention rate of 80.48% after 800 cycles, all surpassing the performance of commercial Pt/C(JM). This study shows that incorporating the less expensive Fe can significantly enhance the catalytic activity and stability of Pt-based catalysts, providing important theoretical foundations for the design and potential applications of Pt-based catalyst materials.