PdNiO anode catalyst supported on exfoliated graphene oxide (EGO) was chemically prepared for alkaline direct ethanol fuel cell. PdNiO/EGO catalyst exhibits greater catalytic activity and stability towards ethanol oxidation reaction in the alkaline medium compared to PdNiO/C and PdNiO. PdNiO/EGO catalyst shows the highest open circuit voltage (OCV) and power density as compared to the other PdNiO composites and commercially available Pd/C catalyst. PdNiO/EGO is a promising anode material for direct ethanol fuel cell application.