Nowadays, the knowledge of the gas-phase chemistry of formic acid is paramount for several industrial sectors, including energy supply and the production of bulk chemicals. In this work, a simplified kinetic mechanism and a detailed kinetic mechanism deriving from a rate-based selection algorithm were developed and tested against experimental data available in the literature. The former contains 141 species and 453 reactions, whereas the latter comprises 90 species and 1047 reactions. A focus on a low initial temperature (i.e., up to 500 K) was provided by comparing the numerical estimations with laminar burning velocity and jet-stirred measurements at several conditions. A good agreement among numerical predictions and experimental data was observed, especially for the simplified kinetic mechanism. The accuracy of the generated mechanism allowed for further analysis of the chemistry of the system, enlightening some determining aspects of the chemistry of formic acid. The produced mechanism can be also intended as per seed mechanism for the generation of kinetic models focused on the chemistry of biofuels. Indeed, the characterization of chemical aspects of formic acid occurring in an oxidative environment is crucial due to its relevance as an energy vector as well as an intermediate compound in the decomposition of larger hydrocarbons and bio-oils.