Ceramic–metal composites (cermets) containing yttria-stabilized zirconia, YSZ, and Ni particles are commonly used as anode materials in solid oxide fuel cells. The long-term performance of fuel cells is strictly related to both the structural and electrical properties of anode materials. In order to achieve high mixed electrical conductivity and high activity of electrochemical reactions and hydrocarbon fuel reforming, it is necessary to select an appropriate chemical composition and a suitable method of preparation. Materials containing 8 mol% yttria-stabilized zirconia and Ni were prepared by means of two methods: co-precipitation and impregnation. The structure of the materials was characterized by means of X-ray diffraction (XRD), scanning electron microscopy (SEM) and porosity studies. The thermal expansion coefficient (TEC) was determined using the dilathometric method. Electrochemical impedance spectroscopy (EIS) and the Wagner polarization method were used to determine electrical conductivity and the electron transference numbers, respectively.