We report a size-controllable synthesis of monodisperse core/shell Ni/FePt nanoparticles (NPs) via a seed-mediated growth and their subsequent conversion to Ni/Pt NPs. Preventing surface oxidation of the Ni seeds is essential for the growth of uniform FePt shells. These Ni/FePt NPs have a thin (≈1 nm) FePt shell and can be converted to Ni/Pt by acetic acid wash to yield active catalysts for oxygen reduction reaction (ORR). Tuning the core size allows the optimization of their electrocatalytic activity. The specific activity and mass activity of 4.2/0.8 nm core/shell Ni/FePt after acetic acid wash reach 1.95 mA/cm2 and 490 mA/mgPt at 0.9 V (vs reversible hydrogen electrode), which are much higher than those of benchmark commercial Pt catalyst (0.34 mA/cm2 and 92 mA/mgPt at 0.9 V). Our studies provide a robust approach to monodisperse core/shell NPs with nonprecious metal core, making it possible to develop advanced NP catalysts with ultralow Pt content for ORR and many other heterogeneous reactions.