The specification discloses an alloy catalyst for oxidation of hydrogen which is prepared by heat treating a material comprising an amorphous alloy represented by the formula: ZrxCo(100-x) (wherein 10 atomic % ~ x ~ 80 atomic %), according to the following three-steps in an oxidizing atmosphere: first heat-treatment step at a temperature at which the foregoing alloy stably exists as an amorphous single phase; second heat-treatment step at a temperature at which the alloy exists as a mixed phase of a metastable phase and an amorphous phase; and third-heat treatment step at a temperature at which the alloy is entirely transformed into a crystalline phase. The alloy catalyst of the present invention is a highly active catalyst for oxidation of hydrogen and exhibits a superior catalytic efficiency especially in catalytic combustion of hydrogen and in deoxidation and dehydrogenation of a gas mixture of hydrogen and oxygen.
