An ultrasensitive sandwich-type electrochemical immunosensor was designed for the quantitative detection of alpha fetoprotein (AFP). The β-cyclodextrins functionalized graphene sheets (CD-GS) were used as the sensing matrix for immobilizing adamantine-1-carboxylic acid functionalized primary anti-AFP (ADA-Ab1) and enhanced the electron transfer. PdNi alloy nanoparticles decorated N-doped graphene nanoribbons (PdNi/N-GNRs) were used as labels of secondary anti-AFP (Ab2), and PdNi alloy nanoparticles (PdNi NPs) exhibited high catalytic performance towards the reduction of H2O2. Meanwhile, with good dispersion, large specific surface area and good catalytic performance, N-doped graphene nanoribbons (N-GNRs) significantly amplified the electrochemical signal. Under the optimal conditions, the electrochemical immunosensor exhibited a wide linear range of 0.0001-16 ng/mL with a low detection limit of 0.03 pg/mL. Additionally, the proposed immunosensor showed high specificity, good reproducibility and long-term stability, which have promising application in bioassay analysis.