Bearing in mind the need to develop optimal transition metal oxide-based catalysts for the combustion of volatile organic compounds (VOCs), yolk-shell materials were proposed. The constructed composites contained catalytically active Co3O4 nanoparticles, protected against aggregation and highly dispersed in a shell made of porous SiO2, forming a specific type of nanoreactor. The bottom-up synthesis started with obtaining spherical poly(styrene-co-acrylic acid) copolymer (PS30) cores, which were then covered with the SiO2 layer. The Co3O4 active phase was deposited by impregnation using the PS30@SiO2 composite as well as hollow SiO2 spheres with the removed copolymer core. Structure (XRD), morphology (SEM), chemical composition (XRF), state of the active phase (UV-Vis-DR and XPS) and reducibility (H2-TPR) of the obtained catalysts were studied. It was proven that the introduction of Co3O4 nanoparticles into the empty SiO2 spheres resulted in their loose distribution, which facilitated the access of reagents to active sites and, on the other hand, promoted the involvement of lattice oxygen in the catalytic process. As a result, the catalysts obtained in this way showed a very high activity in the combustion of toluene, which significantly exceeded that achieved over a standard silica gel supported Co3O4 catalyst.