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Shape-selective monometallic nanocatalysts offer activity benefits based on structural sensitivity and high surface area. In bimetallic nanoalloys with well-defined shape, site-dependent metal surface segregation additionally affects the catalytic activity and stability. However, segregation on shaped alloy nanocatalysts and their atomic-scale evolution is largely unexplored. Exemplified by three octahedral Pt_xNi_1−x alloy nanoparticle electrocatalysts with unique activity for the oxygen reduction reaction at fuel cell cathodes, we reveal an unexpected compositional segregation structure across the {111} facets using aberration-corrected scanning transmission electron microscopy and electron energy-loss spectroscopy. In contrast to theoretical predictions, the pristine Pt_xNi_1−x nano-octahedra feature a Pt-rich frame along their edges and corners, whereas their Ni atoms are preferentially segregated in their {111} facet …