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The oxygen reduction reaction (ORR) is one of the crucial energy conversion reactions in proton exchange membrane fuel cells (PEMFCs). Low price and remarkable catalyst performance are very important for the cathode ORR of PEMFCs. Among the various explored ORR catalysts, non-noble metals (transition metal: Fe, Co, Mn, etc.) and N co-doped C (M–N–C) ORR catalysts have drawn increasing attention due to the abundance of these resources and their low price. In this paper, the recent advances of single-atom catalysts (SACs) and double-atom catalysts (DACs) in the cathode ORR of PEMFCs is reviewed systematically, with emphasis on the synthesis methods and ORR performance of the catalysts. Finally, challenges and prospects are provided for further advancing non-noble metal catalysts in PEMFCs.