High-stability, self-protecting particles encapsulated by a thin film of a catalytically active noble metal are described. The particles are preferably nanoparticles comprising a passivating element having at least one metal selected from the group consisting of columns IVB, VB, VIB, and VIIB of the periodic table. The nanoparticle is preferably encapsulated by a Pt shell and may be either a nanoparticle alloy or a core-shell nanoparticle. The nanoparticle alloys preferably have a core comprised of a passivating component alloyed with at least one other transition metal. The core-shell nanoparticles comprise a core of a non-noble metal surrounded by a shell of a noble metal. The material constituting the core, shell, or both the core and shell may be alloyed with one or more passivating elements. The self-protecting particles are ideal for use in corrosive environments where they exhibit improved stability compared to conventional electrocatalyst particles.