AbstractCarbon nanofibers (CNFs) are grown by catalytic CO disproportionation over ultrafine Fe3O4 catalyst at a hydrogen concentration of 0–29.17%, and the time‐depending rates of CNFs growth are continuously monitored and the morphologies of the as‐synthesized CNFs are analyzed. Increasing H2 concentration will lower CO dissociation energy and assist catalyst reconstruction so as to shorten the induction period and increase the growth rate of CNFs, but it will also increase the rate of catalyst deactivation because carbon hydrogasification is not possible and carbon diffusion in the catalyst particle is rate limiting. As a result of H2‐induced catalyst reconstruction and carbon deposition, the morphology of the CNFs changes from twisty to helical and to straight and becomes less entangled when the H2 concentration is increased. Copyright © 2009 Curtin University of Technology and John Wiley & Sons, Ltd.