AbstractLow‐loaded platinum‐group single‐atom catalysts on CeO2 (M1/CeO2) were synthesized via high‐temperature atom trapping (AT) and tested for the NO+CO reaction under dry and wet conditions. The activity of these catalysts for NO+CO reaction follows the order Rh>Pd≈Ru>Pt>Ir. For Rh, Ru, and Pd single‐atom catalysts, the N2O byproduct is formed but not clearly observed in Ir and Pt cases, which may result from the higher reaction temperature (>200 °C) required for Pt and Ir catalysts. The presence of water can promote the activity of these M1/CeO2 catalysts for the NO+CO reaction. Under wet conditions, significant NH3 formation occurred during the reaction, which is due to the co‐existence of water‐gas‐shift reaction on these catalysts. Compared with Pt, Pd and Ir, the Rh and Ru single‐atom catalysts show higher selectivity to NH3 species, resulting from the hydride species on the surface. Among all tested catalysts, Ru1/CeO2 shows the highest production of ammonia and highest CO conversion due to excellent water‐gas‐shift activity, whereas Pd1/CeO2 shows lowest ammonia production. Rh1/CeO2 shows the best low temperature NO reduction activity among all tested catalysts.