A high‐surface‐area PtSn electrocatalyst supported on carbon was prepared by using a formic acid reduction method. The catalyst was characterized by X‐ray fluorescence, X‐ray diffraction, X‐ray photoelectron spectroscopy, and transmission electron microscopy. The electrochemical properties of the electrocatalyst were investigated by using polarization measurements, cyclic voltammetry, potentiostatic durability tests, and electrochemical impedance spectroscopy. An endurance test of 220 h at 0.4 V with recirculation of ethanol was carried out. Under continuous operation in a direct ethanol fuel cell, the electrocatalytic system shows an initial decay, but suitable stability is observed after about 100 h.