The invention relates to the fuel cell field, aims to provide a method for preparing conductive polymer modified carbon based cobaltous hydroxide composite catalyst which is coated on the positive andnegative pole of directly fuel cell. The method comprises: preparing suspension by conductive polymer modified carbon carrier and deionized water; adding cobalt salt solution and stirring, and heating by reflux; adding alkaline sodium borohydride solution with concentration of 0.5M slowly as reducing agent, stirring intensely and cooling naturally; washing by deionized water and filtering, and drying in vacuum to obtain the conductive polymer modified carbon based cobaltous hydroxide composite catalyst. The invention synthesize composite catalyst by wet chemical method, has a simple synthesisprocess; the synthesized composite catalyst is a non-Pt catalyst, has a low cost, is favorable to the popularization of fuel cell technology; conductive polymer can increase electrode electrical conductivity, reduce electrode impedance, improve electrode activity, and improve the output performance of cell.