An electrochemical method for the preparation of nanostructured composites based on multiwalled carbon nanotubes and chromium oxide is proposed. The method involves electrodeposition of chromium oxides from a solution of hexavalent chromium oxide in sulfuric acid on carbon nanotubes. By varying the electrolysis conditions one can obtain deposited—catalyst particles of different size and vary the amount of catalyst. Oxygen electrodes have been made from the materials obtained for fuel cells with alkaline electrolyte, which showed good electrocatalytic properties.