A novel magnetic binary‐metal‐oxide‐coated nanocataly composing of a hollow Fe3O4 core and CeO2‐La2O3 shells with Au nanoparticles encapsulated has been created in this work. The structural features of catalysts were characterized by several techniques, including SEM, TEM, UV‐vis, FTIR, XRD, XPS and TGA analyses. After the coating of CeO2‐La2O3 layer, CeO2‐La2O3/Au/C/Fe3O4 microspheres showed a superior thermal stability and catalytic reactivity compared with a pure CeO2 or La2O3 layer. Accompanied by the burning of carbon layer, the specific surface could be increased by the formation of double‐shelled structure. Besides, the desired samples could be separated by magnet, implying the superior recycle performance. Using the reduction of 4‐nitrophenol by NaBH4 as a model reaction, the microspheres exhibited highly reusability, superior catalytic activity, thermal stability, which are attributed to the unique double‐shelled structure of the support, uniform distribution of Au nanoparticles, the highly thermal stability of CeO2‐La2O3 layer and mixed oxide synergistic effect. As a consequence, the unique nanocatalyst will open a promising way in the fabrication of the double‐shelled hollow binary‐metal‐oxide materials for future research and has great potential in other applications.