Pt-Pd catalysts were prepared by using the spontaneous deposition method and their characteristics were analyzed in a direct formic acid fuel cell (DFAFC). Effects of calcination temperature and atmosphere on the cell performance were investigated. The calcination temperatures were 300, 400 and 500 ℃ and the calcination atmospheres were air and nitrogen. The fuel cell with the catalyst calcined at 400 ℃ showed the best cell performance of 58.8mW/cm2. The effect of calcination atmosphere on the overall performance of fuel cell was negligible. The fuel cell with catalyst calcined at air atmosphere showed high open circuit potential (OCP) of 0.812 V. Also the effects of anode and cathode catalyst loadings on the DFAFC performance using Pt-Pd (1 : 1) catalyst were investigated to optimize the catalyst loading. The catalyst loading had a significant effect on the fuel cell performance. Especially, the fuel cell with anode catalyst loading of 4mg/cm2 and cathode catalyst loading of 5mg/cm2 showed the best power density of 64.7mW/cm2 at current density of 200 mA/cm2.