Removing toxic formaldehyde (HCHO) from environmental water is crucial for human health and the ecosystem. Perovskite-type Lanthanum cobalt oxide (LaCoO3) has achieved great success in a wide range of catalytic processes; however, this concept has been rarely applied to the degradation of HCHO. Here, we prepared perovskite-type catalysts with different La/Co molar ratios, and the time for HCHO oxidation degradation at room temperature was shortened by 12 times (10 min vs. 119 min) compared to other heterogeneous catalysts. LaCoO3 exhibits superior catalytic activity for HCHO degradation at room temperature when the La/Co molar ratio is 1:1 compared to lanthanum cobalt oxides with other molar ratios. The X-ray photoelectron spectroscopy (XPS) test results show that increasing the La/Co molar ratio reduces the Co2+ content in the catalyst, while Co2+ plays the most important role in the catalyst. Quencher experiments indicated that sulfate radicals (SO4·−) and hydroxyl radicals (·OH) were the primary reactive species for the removal of HCHO. This finding suggests that the catalytic oxidation reaction involving HCHO operates as a heterogeneous Fenton-like oxidation reaction.