This paper describes a statistical approach to the optimal selection of preparation conditions for a ceria-promoted Co-Mo catalyst used during CO hydrogenation. Eight catalyst samples based on a full factorial design were prepared via incipient wetness method. Evaluation was carried out in laboratory packed bed reactor using synthesis gas containing H₂:CO=2 at 280℃ and 110 kPa. BET was unaffected by pH although increased calcination temperature induced only a small drop in total surface area. More significantly, catalysis calcined at low temperature (350℃) suffered a 3-fold loss in metal surface area when treated at high temperatures (550℃) while an increase in pH improved the metal area value. pH values above the isoelectric point (IEP=5.65) and low calcination temperature favoured activity and alkene selectivity. High reduction temperature, however, appeared to enhance methane suppression. Additionally, 2-factor interactions were statistically more significant than 3-factor interactions at 95% confidence level. Optimisation of the polynomial models describing the response data was also consistent with qualitative inferences.