Two types of catalysts with the same palladium loading, palladium-substituted perovskite (LaFe 0.77 Co 0.17 Pd 0.06 O 3 ) and perovskite-supported palladium catalyst (Pd/LaFe 0.8 Co 0.2 O 3 ) were prepared, and the effects of the preparation methods and reactant gas composition on the catalytic behaviors were investigated in detail. The catalyst structure was characterized by X-ray diffraction (XRD), transmission electron micrograph (TEM), temperature-programmed reduction (TPR) and X-ray photoelectron spectroscopy (XPS) techniques. It was found that the excellent three-way catalytic activities could be obtained under slight rich conditions due to hydrocarbon steam reforming. The activity performance of Pd/LaFe 0.8 Co 0.2 O 3 was higher than that of LaFe 0.77 Co 0.17 Pd 0.06 O 3 and this was owing to the ease of reduction of palladium in the former.