A series of PdSn binary catalysts with varied molar ratios of Pd to Sn are synthesized on B and N dual-doped graphene supporting materials. The catalysts are characterized by X-ray diffraction (XRD) and Transmission electron microscopy (TEM). Formic acid electro-oxidation reaction is performed on these catalysts, and the results reveal that the optimal proportion of Pd:Sn is 3:1. X-ray photoelectron spectroscopy (XPS) measurements show that when compared with 3Pd1Sn/graphene, B and N co-doping into the graphene sheet can tune the electronic structure of graphene, favoring the formation of small-sized metallic nanoparticles with good dispersion. On the other hand, when compared with the monometallic counterparts, the incorporation of Sn can generate oxygenated species that help to remove the intermediates, exposing more active Pd sites. Moreover, the electrochemical tests illustrate that 3Pd1Sn/BN-G catalyst with a moderate amount of Sn exhibits the best catalytic activity and stability on formic acid electro-oxidation, owing to the synergistic effect of the Sn doping and the B, N co-doping graphene substrate.