The impedance of teflon bonded electrodes was measured in the frequency domain. These electrodes based on activated carbon as electrocatalyst were developed for fuel cell applications. When feeding the electrode with air or oxygen the impedance spectra could be explained by two Nernst diffusion processes and a small charge transfer process. Two methods for separating the measured impedance into partial impedances related to different steps of the electrode reaction are presented. A least square fit procedure is described which has been applied successfully to the impedance analysis of porous electrodes