A method for catalytically producing formic acid and regenerating the catalyst employed, where a vanadyl ion, vanadate ion or polyoxometalate ion of the general formula [PMoxVyO40]n− serving as catalyst is contacted at a temperature above 70° C. and below 160° C. with an alpha-hydroxyaldehyde, an alpha-hydroxycarboxylic acid, a carbohydrate, a glycoside or a polymer containing a carbon chain and having at least one OH group bonded repeatedly as substituent to the carbon chain and/or having an O, N or S atom present repeatedly in the carbon chain, in a liquid solution (12) in a vessel (10), where 6≤x≤11 and 1≤y≤6 and 3<n<10 and x+y=12, where n, x and y are each an integer, where the catalyst reduced is returned by oxidation to its original state, characterized in that the solution (12) for this purpose is contacted with a gas (18) comprising a volume fraction of at least 18% of oxygen at a pressure of at least 2 bar and at most 16 bar, by means of a mixing apparatus or via a liquid-impermeable, gas-permeable membrane, where CO and/or CO2 formed in the reaction and passing into the gas (18) are/is taken off in a quantity such that the volume fraction of CO and CO2 together in the gas (18) does not exceed 80%.