The present invention relates to ceric oxide that has excellent heat resistance and oxygen absorbing and desorbing capability useful as a co-catalyst material suitable for a catalyst for purifying exhaust gas, that is capable of maintaining a large specific surface area even in use in a high temperature environment, and that is suitable for use in a high temperature environment, yet capable of exhibiting high oxygen absorbing and desorbing capability also in a lower temperature range, a method for preparing such ceric oxide, and a catalyst for purifying exhaust gas utilizing such ceric oxide. The ceric oxide is an oxide composed essentially of ceric oxide, and has a specific surface area of not smaller than 30.0 m.sup.2/g after calcination at 900.degree. C. for 5 hours.