A series of Pt–Au catalysts prepared by co-precipitation (CP) and single step sol-gel (SSG) methods was investigated for selective CO oxidation. The characteristics of the prepared catalysts were determined by XRD, BET surface area, SEM, H 2-TPR, chemisorption analysis, and FTIR. The simulated reformatted gas consisted of 1% CO, 1% O 2, 0% to 10% H 2O, 0–20% CO 2, and 40% H 2 in He balance. The operating temperature range was varied from 50 °C to 190 °C at atmospheric pressure. The experimental results elucidated that the catalytic preparation method had a significant effect on the catalyst characteristics and its activity. The catalytic performance over PtAu/Ce 1Zn 1O 2 prepared by co-precipitation was higher than that of PtAu/CeO 2 and PtAu/ZnO because of the incorporation of Ce 4+ ions and the Zn 2+ ions in the lattice. To encourage better catalytic performance, the catalysts should be calcined at 500 °C for 5 h and pretreated in a H 2 atmosphere. The CO conversion for the single- and double-stage reaction was reduced when adding water vapor and CO 2 to the feedstream; the water vapor and CO 2 molecules compete for the adsorption with CO on the active sites of the catalysts. During the deactivation test for 60 h, the CO conversion and selectivity are maintained.