Fischer-Tropsch synthesis in a slurry reactor at a pressure of 20 atm and a temperature of 220-300A degrees C in the presence of 100Co : 2Pd : (5-50)Al2O3 and 100Co : 2Pd : (20-50)ZrO2 (parts by weight) catalysts in situ synthesized in a hydrocarbon medium has been studied. The catalysts were prepared by the decomposition of cobalt salts and promoters in melted petroleum paraffin P-2 at 300A degrees C and in situ reduced with hydrogen. It has been found that the nanocatalyst containing 20 parts by weight of ZrO2 exhibits the highest activity in the Fischer-Tropsch synthesis and provides the yield of liquid products of 70 g/m(3) at a CO conversion of 80%.