-In order to produce gasoline directly from syngas, HZSM-5 can be added to the Fischer-Tropsch catalyst. However, this catalytic system shows an important deactivation rate. Aiming at describing this phenomenon, Fe-based catalysts and physical mixtures containing these catalysts and HZSM-5 were employed in this reaction. All these systems were characterized using the following techniques: XRD, XPS, TPR and TPD of CO. This work shows that HZSM-5 interacts with the Fe-based Fischer-Tropsch catalyst during the reduction step, decreasing the Fe concentration on the catalytic surface and thus lowering the activity of the catalytic system in the Fischer-Tropsch Synthesis.