The work aims to explore oxygen reduction reaction (ORR) performance of non-noble metal as cathodic catalyst of fuel cell. Fe was sputtered on the surface of carbon nanotube (CNT) arrays in N2/Ar working atmosphere in the method of magnetron sputtering. Meanwhile, nitrogen was doped into the samples, then the samples were annealed at different temperature to prepare ORR catalysts for Fe2O3 supported on nitrogen-doped carbon nanotubes (Fe2O3/N-CNT). Scanning electron microscopy (SEM), X-ray diffractometer (XRD), and X-ray photoelectron spectroscopy (XPS) were employed to analyze morphology, structure and composition of the samples. And electrochemical test was conducted to study the ORR performance and catalytic kinetics of the samples. Annealing temperature had significant effects on morphology and ORR performance of the samples. ORR activity of the samples first increased, and then decreased significantly as the annealing temperature increased. The catalyst annealed at 450 ℃ exhibited the best catalytic performance with onset potential at 0.715 V, peak potential at 0.6 V and electron transfer number ranging within 3.3~3.6 in 0.1 mol/L KOH solution. The Fe2O3/N-CNT catalyst exhibits good oxygen reduction activity. Pyridinic-N is the possible active site of ORR in this catalyst. The feasible and inexpensive preparation method makes this electrocatalyst promising in replacing Pt-based noble metal.