This study outlines the fabrication process of an electrochemical platform utilizing glassy carbon electrode (GCE) modified with multi-walled carbon nanotubes (MWCNTs) and palladium nanoparticles (PdNPs). The MWCNTs were applied on the GCE surface using the drop-casting method and PdNPs were produced electrochemically by a potentiostatic method employing various programmed charges from an ammonium tetrachloropalladate(II) solution. The resulting GCEs modified with MWCNTs and PdNPs underwent comprehensive characterization for topographical and morphological attributes, utilizing atomic force microscopy and scanning electron microscopy along with energy-dispersive X-ray spectrometry. Electrochemical assessment of the GCE/MWCNTs/PdNPs involved cyclic voltammetry (CV) and electrochemical impedance spectroscopy conducted in perchloric acid solution. The findings revealed even dispersion of PdNPs, and depending on the electrodeposition parameters, PdNPs were produced within four size ranges, i.e., 10–30 nm, 20–40 nm, 50–60 nm, and 70–90 nm. Additionally, the electrocatalytic activity toward formaldehyde oxidation was assessed through CV. It was observed that an increase in the size of the PdNPs corresponded to enhanced catalytic activity in the formaldehyde oxidation reaction on the GCE/MWCNTs/PdNPs. Furthermore, satisfactory long-term stability over a period of 42 days was noticed for the GCE/MWCNTs/PDNPs(100) material which demonstrated the best electrocatalytic properties in the electrooxidation reaction of formaldehyde.