We report an in situ time-resolved high-energy resolution off-resonant spectroscopy study with subsecond resolution providing insight into the oxidation and reduction steps of a Pt catalyst during CO oxidation. The study shows that the slow oxidation step is composed of two characteristic stages, namely, dissociative adsorption of oxygen followed by partial oxidation of Pt subsurface. By comparing the experimental spectra with theoretical calculations, we found that the intermediate chemisorbed O on Pt is adsorbed on atop position, which suggests surface poisoning by CO or surface reconstruction.