Disclosed herein is an electrode substrate for fuel cells comprising two porous, carbonaceous layers, each having a number of elongated holes for feeding reactant gases into a fuel cell which are provided near the center of the thickness in said layer, and a gas impermeable, carbonaceous separator, interposed between said layers and having a number of elongated holes for flowing coolant which are provided near the center of the thickness in the separator. The porous layer is either a uniformly porous, carbonaceous monolayer, or has a two-layer structure comprising a more porous layer, a less porous layer and elongated holes for feeding reactant gases provided between said more porous layer and said less porous layer, the less porous layer having a bulk density larger than that of the more porous layer. There are also provided according to the invention processes for preparing such an electrode substrate for fuel cells.