A periodic, self-consistent, Density Functional Theory study of methanol decomposition on Pt(111) is presented. The thermochemistry and activation energy barriers for all the elementary steps, starting with O[bond]H scission and proceeding via sequential hydrogen abstraction from the resulting methoxy intermediate, are presented here. The minimum energy path is represented by a one-dimensional potential energy surface connecting methanol with its final decomposition products, CO and hydrogen gas. It is found that the rate-limiting step for this decomposition pathway is the abstraction of hydroxyl hydrogen from methanol. CO is clearly identified as a strong thermodynamic sink in the reaction pathway while the methoxy, formaldehyde, and formyl intermediates are found to have low barriers to decomposition, leading to very short lifetimes for these intermediates. Stable intermediates and transition states are found to obey gas-phase coordination and bond order rules on the Pt(111) surface.