We present the first experimental search for the rare charm decay $D^{0} \to \pi^{0} \nu \bar{\nu}$. It is based on an $e^+e^-$ collision sample consisting of $10.6\times10^{6}$ pairs of $D^0\bar{D}^0$ mesons collected by the BESIII detector at $\sqrt{s}$=3.773 GeV, corresponding to an integrated luminosity of 2.93~fb$^{-1}$. A data-driven method is used to ensure the reliability of the background modeling. No significant $D^{0} \to \pi^{0} \nu \bar{\nu}$ signal is observed in data and an upper limit of the branching fraction is set to be $2.1\times 10^{-4}$ at the 90$\%$ confidence level. This is the first experimental constraint on charmed-hadron decays into dineutrino final states.
