Step 1: Write the hydrogen electrode reaction.
The standard hydrogen electrode reaction is
\[
2H^+ + 2e^- \rightarrow H_2(g)
\]
For this reaction, standard electrode potential is
\[
E^\circ = 0\,V
\]
Step 2: Use the Nernst equation.
The Nernst equation for hydrogen electrode is
\[
E=E^\circ-\frac{0.0591}{2}\log\frac{p_{H_2}}{[H^+]^2}
\]
Given,
\[
p_{H_2}=1\,\text{bar}
\]
So,
\[
E=0-\frac{0.0591}{2}\log\frac{1}{[H^+]^2}
\]
\[
E=-0.0591\,pH
\]
Step 3: Use the pH of neutral solution.
At \(25^\circ C\), a neutral solution has
\[
pH=7
\]
Therefore,
\[
E=-0.0591\times7
\]
\[
E=-0.4137\,V
\]
Step 4: Final conclusion.
Hence, the reduction potential of hydrogen electrode is approximately
\[
\boxed{-0.413\,V}
\]