The intermediate-valence compound CeNi experiences a pressure-induced first-order structural phase transition with an abrupt change in the unit cell volume, and as such constitutes an attractive system to study pressure-driven f-electron delocalization behavior in a system with an unstable f-electron shell. The inelastic neutron scattering study of the dynamic magnetic response of CeNi reveals that the structural transition increases the characteristic energy of magnetic fluctuations due to enhanced Ce 4 f-Ni 3d hybridization. At the same time the inelastic 4 f magnetic form factor remains unchanged.