The electrocatalytic activity of the PtAu nanoparticles supported on ZSM-5 zeolite for the electrooxidation of ethanol has been investigated. The PtAu nanoparticles with a Pt/Au ratio of 1:1 were synthesized by the wet chemical co-reduction method and then deposited on ZSM-5 zeolite. Characterization of PtAu/ZSM-5 showed irregular chains and nets of the PtAu nanoparticles on the ZSM-5 zeolite surface, the alloy structure of PtAu, the variation in the lattice parameters of Pt and Au, and the electronic interaction between PtAu and ZSM-5 zeolite. The PtAu/ZSM-5 catalyst has high activity and stability for ethanol oxidation in alkaline solution. For instance, the peak intensity for PtAu/ZSM-5 is more than 2 times those for PtAu/C and Pt/ZSM-5. In addition, Pt/ZSM-5 and Au/ZSM-5 also show high catalytic activity compared to Pt/C and Au/C, respectively. The results indicate the promising applications of ZSM-5 zeolites as support materials for electrocatalysts and the superiority of the bimetallic PtAu over the monometallic Pt or Au in the catalytic activity.