Carbon-based materials are commonly used supports for platinum (Pt) electrocatalysts in proton-exchange membrane (PEM) fuel cells. However, the limited stability of carbon supports poses a significant challenge in meeting the long lifespan of Pt catalysts. Carbon supports are prone to corrosion in fuel cells, resulting in detachment, aggregation, dissolution, and Ostwald ripening of supported Pt nanoparticles (NPs), leading to electrochemical surface area loss and decreased catalytic activity. In this review, we summarize recent progress in carbon-based catalyst supports and highlight the crucial role of modified carbon supports in oxygen reduction electrocatalysis. A comprehensive evaluation of several carbon support materials shows that support modification is critical for enhanced metal–support interaction and durability. Finally, the proposed perspectives highlight the key features of effective catalyst support for durable electrocatalysts in PEM fuel cells.