A process is provided for destroying formic acid and/or formaldehyde in an aqueous, organic acid waste stream by contacting the stream with a supported precious metal catalyst and passing air or molecular oxygen gas through the solution to promote chemical oxidation. The invention is a safe, practical and cost effective alternative to bio-system treatment of these compounds using microorganisms. The process of the invention may be practiced in either a batch or continuous mode and, in accordance with the invention, formic acid present in a stream at a level of 3800 ppm and formaldehyde present in an amount of 5800 ppm can be reduced respectively to levels of 200 ppm or less.
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