The possibility of recycling dispersed Mo-W-Ni sulfide catalysts synthesized in situ from metal-polymer precursors in the hydrogenation of bicyclic hydrocarbons is explored. It is found that, with a view to preserving the catalytic activity in recycles, an optimum technology for separating the dispersed catalysts from the reaction mixture is centrifugation. The composition and morphological features of the catalysts isolated in different cycles are determined by TEM, XPS, SEM, and XRD methods.