Novel catalysts with the composition Cd-(Zn)/TiO2 and Cu-(Zn)/TiO2 containing nanodispersed titanium(IV) oxide were synthesized and characterized using X-ray diffraction analysis, low-temperature nitrogen adsorption and temperature-programmed reduction in hydrogen. Activity of the synthesized catalysts toward steam reforming of methanol was studied in a microchannel reactor. The highest activity was observed for the Cd-containing catalysts; in addition, they showed the lowest selectivity to carbon monoxide. The catalytic and physicochemical properties of the tested catalysts were compared. A correlation was found between activity of the catalysts and their ability to partial hydrogen reduction of Ti4+ cations to Ti3+ in the TiO2 support. Supposedly, the ability to reduce titanium cations depends on semiconductor properties of the oxides in the catalyst.