Catalytic mechanism of ethylbenzene dehydrogenation over Fe-Co/Mg(Al)O derived from hydrotalcites has been studied based on the XAFS and XPS catalyst characterization and the FTIR measurements of adsorbed species. Fe-Co/Mg(Al)O showed synergy, whereas Fe-Ni/Mg(Al)O showed no synergy, in the dehydrogenation of ethylbenzene. Ni species were stably incorporated as Ni 2+ in the regular sites in periclase and spinel structure in the Fe-Ni/Mg(Al)O. Contrarily, Co species exists as a mixture of Co 3+ /Co 2+ in the Fe-Co/Mg(Al)O and was partially isolated from the regular sites in the structures with increasing the Co content. Co addition enhanced Lewis acidity of Fe 3+ active sites by forming Fe 3+-O-Co 3+/2+ (1/1) bond, resulting in an increase in the activity. FTIR of ethylbenzene adsorbed on the Fe-Co/Mg(Al)O clearly showed formations of CO bond and π-adsorbed aromatic ring. This suggests that ethylbenzene was strongly adsorbed on the Fe 3+ acid sites via π-bonding and the dehydrogenation was initiated by α-H + abstraction from ethyl group on Mg 2+-O 2basic sites, followed by CO -Mg bond formation. The α-H + abstraction by O 2-(-Mg 2+) was likely followed by β-H abstraction, leading to the formations of styrene and H 2. Such catalytic mechanism by the Fe 3+ acid-O 2-(-Mg 2+) base couple and the Fe 3+ /Fe 2+ reduction-oxidation cycle was further assisted by Co 3+ /Co 2+ , leading to a good catalytic activity for the dehydrogenation of ethylbenzene.