Fe/CeO2 catalysts with different ferrum loading were prepared by solid state melting method. Ethanol decomposition on those catalysts at different temperature (600, 700, and 800 degrees C) has been studied. To evaluate the catalytic performance in ethanol decomposition, gaseous and solid products produced from ethanol decomposition were collected and analyzed; H-2 and multi-walled carbon nanotubes (MWCNTs) were obtained. In these experiments, ethanol decomposition on Fe (30 wt%)/CeO2 at 600 degrees C showed the maximum H-2 yield (the maximum H-2 yield was 94%, which was higher than that of previous reports). In addition, other gaseous products include CH4 and CO were observed, but CO2 was not be detected. The content of H-2, CO, and CH4 were 60 similar to 80%, 20 similar to 25%, and 0 similar to 10%, respectively. MWCNTs have formed in ethanol decomposition process, the quality and purity of MWCNTs increase with increasing temperature, and the material with the carbon-encapsulated metal structure was obtained.