Graphene ribbon-supported Pd nanoparticles (Pd/GR) have been prepared by a simple, clean process in aqueous medium, involving only a Pd precursor and graphene ribbon (GR) as both a reducing agent and a catalyst support. A high density of Pd nanoparticles with a small average particle size (∼2.8±0.8nm) could be successfully deposited on graphene ribbons. The as-obtained Pd/GR electrocatalysts show increased electrochemical surface area and significantly enhanced catalytic activity for formic acid oxidation reaction (FAOR) compared to the conventional Pd/C electrocatalysts in terms of peak current density (1.4Amg−1 vs. 0.79Amg−1) and peak potential (−0.15V shift). Both the good dispersion and the relatively small particle size of the Pd nanoparticles on graphene ribbon and the synergetic effect between Pd and GR lead to high initial catalytic activity for FAOR. More importantly, a dramatic enhancement in durability is found with Pd/GR for FAOR due to the strong interaction between Pd and GR.