Developing cost-effective oxygen reduction reaction (ORR) catalysts is pivotal for development of fuel cells. While Fe-N-C catalysts were proposed for ORR, Fe-B-C catalysts have not been explored. This work introduces the B-doped carbon catalysts encapsulating iron cores using CO2 as a carbon source. The Fe-B-C catalysts show enhanced ORR activity and durability due to the iron core within the graphitic layers.