PdM (M=Cr, Mn, Fe, Co, Ni, and Ag) alloy nanoparticles with low M content were prepared using a chemical method and characterized by field emission scanning electron microscopy (FE‐SEM), energy dispersive X‐ray (EDX), EDX mapping, X‐ray diffraction (XRD), and transmission electron microscopy (TEM) analyses. The electro‐oxidation of formic acid on these samples was investigated by linear sweep voltammetry, cyclic voltammetry, and chronoamperometry in H2SO4 solution. The PdAg electrocatalyst demonstrated superior electrocatalytic activity toward the oxidation of formic acid with the mass activity of 1980 mA mg−1Pd which was significantly higher than the mass activity of commercial Pd/C electrocatalysts. Additionally, the PdAg electrocatalyst had the best CO poisoning tolerance as well as the best stability in the considered solution.