Ferrocene-terminated self-assembled monolayer (Fc-SAM) on gold was used as an electron-transfer mediator in the electrochemical assay of l-ascorbic acid 2-phosphate (AAP). The assay is based on the enzymatic action of alkaline phosphatase (ALP), which triggers the release of vitamin C (l-ascorbic acid, AA) from AAP. The latter is easily oxidized on the Fc-SAM under the diffusion limiting conditions that favors quantitative measurement of the AA concentration on a rotating disk electrode. We demonstrate the utility of the electrochemically active Fc-SAM to probe the mechanism and to determine the kinetic parameters of an enzymatic reaction. The electrochemical technique was compared to a conventional spectrophotometric method of ALP activity detection using pnitrophenylphosphate (p-NPP) as a substrate. We demonstrate that our new technique is also suitable for the analytical determination of ALP activity. The detection limits for both AAP and ALP were found to be 13 mM and 2 pM, respectively.