Formic acid, as the simplest carboxylic acid which can be obtained as an industrial by product, is colorless, low toxicity, and easy to transport and storage at room temperature. Recently, Formic acid has aroused wide-spread interest as a promising material for hydrogen storage. Compared to other organic small molecules, the temperature for formic acid decomposition to produce hydrogen is lower, resulting in less CO toxicant species. Lots of catalysts on both homogeneous catalysts and heterogeneous were reported for the decomposition of formic acid to yield hydrogen and carbon dioxide at mild condition. In this paper, the recent development of mechanism and the material study for both homogeneous catalysts and heterogeneous catalysts are reviewed in detail. (C) 2018 Hydrogen Energy Publications LLC. Published by Elsevier Ltd. All rights reserved.