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In this study, a platinum-coated Ni foam catalyst (denoted PtNi/Ni foam) was investigated for the oxidation of the formate reaction (FOR) in an alkaline medium. The catalyst was fabricated via a two-step procedure, which involved an electroless deposition of the Ni layer using sodium hypophosphite as a reducing agent and the subsequent electrodeposition of the platinum layer. The PtNi/Ni foam catalyst demonstrated enhanced electrocatalytic activity for the FOR in an alkaline medium compared to the Ni/Ni foam catalyst and pure Pt electrode. Moreover, the PtNi/Ni foam catalyst promoted the FOR at more negative potentials than the Pt electrode. This contributed to a significant negative shift in the onset potential, indicating the high activity of the catalyst. Notably, in alkaline media with the PtNi/Ni foam catalyst, the FOR proceeds via a direct pathway mechanism without significant accumulation of poisonous carbonaceous species on the PtNi/Ni foam catalyst.