Composite PEDOT/Au films were obtained by chemical deposition of dispersed gold nanoparticles into PEDOT (poly-3,4-ethylenedioxythiophene) conducting polymer matrix. Morphology of the obtained goldcontaining films was studied by SEM and TEM methods. To study the kinetics of the hydrogen peroxide electroreduction that proceeds on glassy carbon electrodes modified with such films, we used phosphate buffer solutions containing addenda of hydrogen peroxide species. It was observed that the electroreduction process takes place on both the gold clusters’ surface and the film surface free of metal inclusions. The rate of the process is higher in the first case and rises with increasing the gold content in modifying films, but in the limit of large gold contents it is limited only by diffusion of hydrogen peroxide species in the bathing solution. A simple theory of such parallel electroreduction is proposed, which appears to allow for quantitative treatment of the obtained results.