NiO/YSZ composite particles with 20 to 35 mol% Y2O3 stabilized ZrO2 (VSZ) are prepared by Spray Pyrolysis (SP) method. The NiO/YSZ composite particles are NiO particles coated with fine YSZ grains. The morphology of Ni/YSZ cermet anode fabricated from the composite particles is noticeably influenced by the YSZ content of the composite particles. Ni/YSZ cermet anode with 25 mol% YSZ shows the highest electrochemical activity and the lowest IR. The electrochemical activity and internal resistance (IR) of the anode in Solid Oxide Fuel Cells (SOFCs) highly depend on the boundary structure between Ni and YSZ grains as well as the network structure of each Ni grains. Consequently, it is concluded that the performance of the Ni/YSZ cermet anode is improved by controlling the morphology of the NiO/YSZ composite particles.