In this work, a direct methanol–hydrogen peroxide fuel cell is developed and tested. Theoretically, it is shown that the use of hydrogen peroxide in a direct methanol fuel cell (DMFC) not only increases the cell's voltage from 1.21 V to 1.76 V, but also reduces the activation loss of the reduction reaction as a result of two-electron transfer. Experimentally, it is demonstrated that the fuel cell with the use of an inexpensive carbon nanotube supported Prussian Blue catalyst, exhibits a peak power density of 125 mW cm−2 at 60 °C, which is comparable to that of conventional DMFCs with platinum-based catalysts.