Abstract: The invention provides a novel highly heat-resistant solid catalyst for the ethanation of hydrogen and carbon monoxide into methane. Different from conventional nickel catalysts, the inventive catalyst comprises a binary active ingredient composed of an alloy of nickel and molybdenum and a molybdenum carbide supported on a porous catalyst carrier. The catalyst is prepared by heating a catalyst intermediate comprising the oxides of nickel and molybdenum supported on the carrier in a gaseous mixture of hydrogen and carbon monoxide at 500.degree.-700.degree. C., preferably, following a step of hydrogen reduction at 400.degree.-900.degree. C. The most preferable catalyst carrier is a mixture or a composite oxide compound composed of magnesium and aluminum oxides. The methanation reaction can be carried out with the inventive catalyst at a much higher temperature, e.g. 650.degree. C.