We studied the electronic structure of PtPb4 using laser angle-resolved photoemission spectroscopy (ARPES) and density functional theory (DFT) calculations. This material is closely related to PtSn4, which exhibits exotic topological properties such as Dirac node arcs. The Fermi surface (FS) of PtPb4 consists of two electron pockets at the center of the Brillouin zone (BZ) and several hole pockets around the zone boundaries. Our ARPES data reveal significant Rashba splitting at the Γ point, in agreement with DFT calculations. The presence of Rashba splitting may render this material of potential interest for spintronic applications.