Gold dendritic nanostructures with hyperbranched architectures were synthesized by the galvanic replacement reaction between nickel wire and HAuCl4 in aqueous solution. The study revealed that the morphology of the obtained nanostructures strongly depended on experimental parameters such as the HAuCl4 solution concentration, reaction temperature, and time, as well as stirring or not. According to the investigation of the growth process, it was proposed that gold nanoparticles with rough surfaces were first deposited on the nickel substrate and that subsequent growth preferentially occurred on the preformed gold nanoparticles, finally leading to the formation of hyperbranched gold dendrites via a self-organization process under nonequilibrium conditions. The electrochemical experiment results demonstrated that the as-obtained gold dendrites exhibited high catalytic activity toward ethanol electrooxidation in alkaline solution, indicating that this nanomaterial may be a potential catalyst for direct ethanol fuel cells.