To reduce the cost of Pt electrode for hydrogen production by PEM electrolysis, the Pt-Ni composite electrode was prepared by electrochemical deposition method using nickel foam as substrate. The prepared Pt-Ni composite electrode was characterized by scanning electron microscope, X-ray diffractometer, and X-ray spectrometer. The hydrogen evolution property of five composite electrodes with different Pt/Ni mass ratios of 1∶7,1∶1,1∶2,1∶14 and 1∶23 were carried out by electrochemical workstation and PEM electrolytic cell. The experimental results show that the Pt-Ni composite electrode prepared by the electrochemical deposition method with nickel foam as the substrate has stable properties, and the amount of deposited Pt has a great influence on the hydrogen evolution property of the Pt-Ni composite electrode. There is an optimal Pt/Ni mass ratio and the best Pt/Ni mass ratio under experimental conditions is m(Pt)∶m(Ni)=1∶12. With either too much or too little Pt deposition, the hydrogen evolution property will be reduced, and the impact of too much Pt deposition stacking on the hydrogen evolution property will be more obvious. In the preparation of Pt-Ni composite electrodes with trace Pt deposition, the principle that the best Pt/Ni mass ratio should be used as a benchmark and the amount of Pt deposited should be "less rather than more" should be kept, while the misconception of "the more Pt deposited the better the electrode property" should be avoided in practical engineering applications.