Hydrogenation of levulinic acid to γ-valerolactone is a key reaction in the valorization of carbohydrates to renewable fuels and chemicals. State-of-the-art catalysts are based on supported noble metal nanoparticle catalysts. We report the utility of a bimetallic Fe-Re supported on TiO₂ for this reaction. A strong synergy was observed between Fe and Re for the hydrogenation of levulinic acid in water under mild conditions. Fe-Re/TiO₂ shows superior catalytic performance compared to monometallic Fe and Re catalysts at similar metal content. The hydrogenation activity of the bimetallic catalysts increased with Re content. H₂-TPR, XPS, XANES, EXAFS, Mössbauer spectroscopy, TEM, and low-temperature CO IR spectroscopy show that the bimetallic catalysts contain metallic Re nanoparticles covered by FeO_x species and small amounts of a Fe-Re alloy. Under reaction conditions, the partially reduced surface FeO_x species adsorb water and form Brønsted acidic OH groups, which are involved in dehydration of reaction intermediates. Under optimized conditions, nearly full conversion of levulinic acid with a 95 % yield of γ-valerolactone could be achieved at a temperature as low as 180 °C in water at a H₂ pressure of 40 bar.