Abstract: A process for forming catalysts by coating substrates with two or more catalytic components, which comprises the following sequence of steps. First, the substrate is infused with an adequate amount of solution having a starting material comprising a catalytic component precursor, wherein the thermal decomposition product of the catalytic component precursor is a catalytic component. Second, the excess of the solution is removed from the substrate, thereby leaving a coating of the catalytic component precursor on the surface of the substrate. Third, the coating of the catalytic component precursor is converted to the catalytic component by thermal decomposition. Finally, the coated substance is etched to increase the surface area. The first three steps are then repeated for at least a second catalytic component. This process is ideally suited for application in producing efficient low temperature oxidation catalysts.