Several Cu and Ni-based catalysts were synthetized over Ce-based supports, either pure or mixed with different amounts of alumina (1:2 and 1:3 mol/mol). Different metal loadings (10–40 wt%) and preparation methods (wet impregnation, co-precipitation, and flame-spray pyrolysis—FSP) were compared for the oxidative steam reforming of methanol. Characterization of the catalysts has been performed, e.g., through XRD, BET, XPS, TPR, SEM, and EDX analyses. All the catalysts have been tested in a bench-scale continuous setup. The hydrogen yield and methanol conversion obtained have been correlated with the operating conditions, metal content, crystallinity of the catalyst particles, total surface area, and with the interaction of the metal with the support. A Cu loading of 20% wt/wt was optimal, while the presence of alumina was not beneficial, decreasing catalyst activity at low temperatures compared with catalysts supported on pure CeO2. Ni-based catalysts were a possible alternative, but the activity towards the methanation reaction at relatively high temperatures decreased inevitably the hydrogen yield. Durability and deactivation tests showed that the best-performing catalyst, 20% wt. Cu/CeO2 prepared through coprecipitation was stable for a long period of time. Full methanol conversion was achieved at 280 °C, and the highest yield of H2 was ca. 80% at 340 °C, higher than the literature data.