Pt-doped Pd nanoparticle catalysts (PdnPt, n is 12, 15 and 19) supported on carbon were synthesized by an ultrasound assisted polyol method. The catalysts were characterized by X-ray diffraction, transmission electron microscopy, and energy dispersive X-ray spectroscopy. The electrochemical activity of the electrocatalysts was investigated in terms of formic acid oxidation reaction (FAOR) at low concentration of formic acid in 0.1 M perchloric acid at room temperature. Formic acid oxidation on the PdnPt/C commences at lower potential than a commercial Pt/C. Pd19Pt/C catalyst showed the highest catalytic activity in FAOR compared to that of other catalysts. The obtained electrochemical results from voltammograms indicate that Pt-doped Pd catalysts can be a promising candidate for the anode material in direct formic acid fuel cells. The synthesis procedure is not only a very facile route but also a mass producible method for preparing carbon supported alloy nanoparticles.