As an interesting hydrogen carrier, formic acid is bio-renewable, non-toxic and available in the liquid state at room temperature. The development of active and low-cost catalyst is of significance for hydrogen generation from formic acid. In this study, both a relatively cheap metal (Ag) and a functional support (nitrogen modified reduced graphene oxide, N-rGO) were applied to prepare Pd catalyst. It was found that the Ag atoms facilitated the formation of Pd-rich surface in the preparation strategy, in which the reductive N-rGO and a two-step feeding process of metal precursors played important roles. In addition, Ag additive was found to benefit catalyst stability. Most interestingly, the obtained low Pd loading Pci(1)Ag(6)/N-rGO catalyst showed a specific Pd loading turnover frequency of 171 mol Pd-1 h(-1) and a specific metal cost turnover frequency of 64.2 $(-1) h(-1), which were predominant among currently available Pd-based catalysts towards formic acid decomposition without any additive under room temperature. (C) 2017 Hydrogen Energy Publications LLC. Published by Elsevier Ltd. All rights reserved.