We report the synthesis, crystal structure, and basic physical properties of Ag8PtO6, which represents the first silver platinum ternary oxide. The crystalline compound was obtained from appropriate mixtures of the binary constituents under alkaline conditions at high oxygen pressure, while applying relatively mild thermal conditions (573 K). Ag8PtO6 crystallizes in a new crystal structure in the triclinic system (P1[combining macron]). The structure consists of slightly distorted, discrete PtO6 octahedra, which are linked via O-Ag-O dumbbells to form a three dimensional framework. It is a diamagnetic semiconductor with a band gap of 0.9 eV. DFT based calculations confirm an electronic ground state that corresponds to a 5d6 6s0 configuration of the Pt atoms, in accordance with the observed diamagnetism.