The electronic structure of the layered 4d transition metal oxide Sr2RhO4 is investigated by angle resolved photoemission. We find well-defined quasiparticle excitations with a highly anisotropic dispersion, suggesting a quasi-two-dimensional Fermi-liquid-like ground state. Markedly different from the isostructural Sr2RuO4, only two bands with dominant Rh 4dxz,zy character contribute to the Fermi surface. A quantitative analysis of the photoemission quasiparticle band structure is in excellent agreement with bulk data. In contrast, it is found that state-of-the-art density functional calculations in the local density approximation differ significantly from the experimental findings.