The Present study explores the use of bovine serum albumin for the synthesis of protein capped Ag-Pt alloy nanoparticles by transmetal reaction in aqueous bovine serum albumin foam. The silver, platinum metal ion salts were carried in bovine serum albumin foam and reduction of silver was carried out by passing hydrazine hydrate fumes through dry foam and platinum reduction by silver ions through transmetal reaction. The synthesis of clustered Ag-Pt alloy nanoparticles is confirmed by UV-visible spectroscopy, X-ray diffraction, TEM Microscopy and X-ray photoelectron spectroscopy. This is the simplest, novel and bio-echo friendly method for reduction of platinum and its alloy formation along with protein capping as compared to the other methods on large scale and at room temperature. The synthesized Ag-Pt alloy nanoparticles can be used for catalytic activities.