TiO2 loaded with Au鈥揂g bimetallic alloy particles efficiently produces H2O2 from an O2-saturated ethanol/water mixture under UV irradiation. This is achieved via the double effects created by the alloy particles. One is the efficient photocatalytic reduction of O2 on the Au atoms promoting enhanced H2O2 formation, due to the efficient separation of photoformed electron鈥揾ole pairs at the alloy/TiO2 heterojunction. Second is the suppressed photocatalytic decomposition of formed H2O2 due to the decreased adsorption of H2O2 onto the Au atoms.