Nanorod-supported (Pt–Pd)/CeO₂ catalysts were synthesized by a simple method of dealloying Al_91.7Ce₈ Pt_XPd_0.3−X (X = 0, 0.075, 0.1, 0.15, 0.2, 0.3) alloy ribbons. SEM and TEM characterization implied that after calcination treatment, the achieved resultants exhibited interspersed nanorod structures with a rich distribution of nanopores. Catalytic tests showed that the (Pt_0.1–Pd_0.2)/CeO₂ catalyst calcined at 300 °C exhibited the highest catalyst activity for CO oxidation when compared with other catalysts prepared at different noble metal ratios or calcined at other temperatures, whose complete reaction temperature was as low as 100 °C. The outstanding catalytic performance is ascribed to the stable framework structure, rich gas pathways and collaborative effect between the noble Pt and Pd bimetals.