A series of ceria‐supported Rh nanoparticles (NPs) that have various particle sizes of 2–7 nm was prepared to investigate the size effect of Rh NPs on NO reduction in NO–CO–C3H6–O2 under stoichiometric conditions. The turnover frequency (TOF) for NO reduction on Rh NPs increased drastically according to their particle size. The strong size dependence of the TOF was attributed to the oxidation states of Rh NPs but not to particle geometries, which include fractions of surface local sites (e.g., corner, edge, plane) and the surface crystal structures (e.g., Rh(1 1 1), (1 0 0)). The variation of the TOF with the Rh metal fraction suggested that Rh metal ensembles are highly active species for NO reduction.