Pd nanoparticles were synthesized by reducing PdCl_2 in aqueous or alcoholic solutions in the presence of NaOH or hydrazine hydrate, as well as without them. The palladium powder samples were characterized by X-ray diffraction (XRD) and small-angle X-ray scattering (SAXS) methods. The size of the synthesized Pd nanoparticles varied from ~8 to 28 nm. They were used as a base for the development of catalytically active electrode materials for use in solid polymer fuel cells. The most electrochemically active and stable catalytic electrode materials were determined. Such materials are relevant for use in hydrogen-air fuel cells as an alternative to hydrocarbon fuel.