Formic acid is a promising fuel candidate that can be generated by reacting renewable hydrogen with carbon dioxide. However, the burning characteristics of formic acid/air mixtures have not been extensively studied. Furthermore, due to its low reactivity, the addition of hydrogen to formic acid/air mixtures may help with improving burning characteristics. This paper presents the first extensive study of formic acid/air premixed laminar burning velocities, as well as mixtures with hydrogen and carbon dioxide. Unstretched laminar burning velocities and Markstein lengths of formic acid in air for two different unburnt gas temperatures and equivalence ratios are presented. Measurements of formic acid mixed with various proportions of hydrogen and carbon dioxide in air are also studied as a potential renewable fuel for the future. Experimental results demonstrate the low burning velocities of formic acid and the ability to significantly enhance flame speeds by hydrogen addition. A modified detailed kinetic model for combustion of formic acid and its mixtures with hydrogen is proposed by merging well-validated literature models. The proposed model reproduces the experimental observations and provides the basis for understanding the combustion kinetics of formic acid laminar premixed flames, as well as mixtures with hydrogen. It is shown that the HOCO radical is the principal intermediate in formic acid combustion, and hydrogen addition accelerates the decomposition of HOCO radical thereby accelerating burning velocities.