Nd₂NiO_4+δ was investigated as a Ruddlesden–Popper (RP) cathode material for intermediate-temperature solid oxide fuel cells (IT-SOFCs), with particular emphasis on its electrochemical performance and oxygen reduction reaction mechanism. The material was synthesized via a polymeric sol–gel route derived from Pechini’s method and evaluated in symmetric cells using Ce_0.9Gd_0.1O_2−δ (GDC) as the electrolyte. X-ray diffraction confirmed the formation of a single RP phase and good chemical compatibility with GDC after thermal treatments at 800 °C. Cathode layers with thicknesses of 8–12 µm were deposited by dip-coating. Electrical conductivity measurements revealed a thermally activated semiconducting behavior governed by Ni²⁺/Ni³⁺ small-polaron hopping, with an activation energy of ~1.08 eV. Electrochemical impedance spectroscopy showed a strong temperature dependence of the area-specific resistance, decreasing from 9.18 Ω·cm² at 600 °C to 0.39 Ω·cm² at 800 °C. Distribution of relaxation times (DRT) analysis enabled the identification of the dominant electrochemical processes, indicating that oxygen surface exchange reactions are more favorable than charge transfer at the cathode–electrolyte interface, which remains the main limiting step. These results demonstrate that Nd₂NiO_4+δ is a promising cathode for IT-SOFC operation, while further optimization of the electrode–electrolyte interface is required to enhance its oxygen reduction kinetics.