There are provided fine particle-carrying carbon particles, which can be used as a substitute for the existing platinum-carrying carbon particles or platinum metal particles commonly used in electrocatalysts for fuel cells or the like, and which are significantly reduced in the amount of platinum to be used in comparison with the existing platinum-carrying carbon particles, and an electrode for a fuel cell using the same carbon particles.The fine particle-carrying carbon particle comprises a carbon particle with an average particle diameter of from 20 to 70 nm, and fine particles of a metal oxide with an average crystallite size of from 1 to 20 nm, carried on the carbon particle, wherein the metal oxide contains a noble metal element such as a platinum element, and is represented by the formula: MOx in which the metal element M is partially substituted by the noble metal element. To manufacture such fine particle-carrying carbon particles, a solution containing complex ions of a metal which constitutes the fine metal oxide particle is firstly prepared; then, carbon particles are dispersed in the resulting solution to adsorb the complex ions of the metal onto the carbon particles; and the resulting dispersion is subjected to a hydrothermal treatment.