In the present study, siliceous self-pillared pentasil (SPP) zeolite with regular mesopores was synthesized and used as a support for anchoring bimetallic PdAg clusters through a facile impregnation-reduction method. The as-prepared PdAg/SPP catalysts with different Pd/Ag ratios were demonstrated to catalyze formic acid dehydrogenation for hydrogen production. XRD results confirmed the formation of PdAg alloy on the surface of SPP zeolite. The Pd7Ag3/SPP catalyst showed high activity at 80 °C with an initial turn-over frequency (TOF) of 1263.6 h−1, proving the strategy using hierarchical SPP zeolite as carrier is advantageous over bulky zeolites for making highly active formic acid dehydrogenation catalysts.