Synthesis of multi-walled carbon nanotubes (MWCNTs) was accomplished by catalytic chemical vapor deposition of ethylene over Co/Al 2 O 3 in a uidized-bed. The reaction temperature and ethylene concentration, as the molar percentage (mol%), were both found to be crucial factors determining the solid carbon conversion level and selectivity of MWCNT formation, but had no signi cant e ect on the size distribution of the obtained MWCNTs. Amorphous carbon and carbon nano bers (CNFs) were the main products obtained at a reaction temperature of 550°C. Amorphous carbon was also formed when using ethylene at a high concentration (62.5 mol%), which possibly deactivated the catalyst. Increasing the reaction temperature from 550 to 650°C resulted in better graphitized MWCNTs. The average diameters of the synthesized MWCNTs were in the range of 7-8 nm independent of the reaction temperature or ethylene concentration. The selectivity of alkane production decreased considerably at reaction temperatures above 675°C, resulting in a higher productivity of MWCNTs. The activation energy for MWCNT formation was found to be 65.3 kJ/mol, which matched well with that previously reported for carbon di usion in liquid cobalt.