PdNiP alloy nanoparticle networks (PdNiP NN) were prepared by simultaneous reduction of PdCl2, NiCl2 and NaH2PO2 with NaBH4via a gas-liquid interface reaction at room temperature using N2 bubbles. PdNiP NN had markedly higher activity and durability for ethanol oxidation than PdNi nanoparticle networks and PdNiP grain aggregates.