The present invention provides a methanation catalyst prepared by depositing Pt and Ru on a metal oxide carrier by incipient wetness impregnation or precipitation deposition, drying and calcining the deposited carrier to obtain a Pt--Ru/metal oxide catalyst. This catalyst can selectively catalyze methanation of CO, wherein hydrogen and CO in a hydrogen-rich reformate or synthesis gas are reacted to form methane and water, thereby the CO concentration in the hydrogen-rich reformate is reduced.