A process for the preparation of a catalyst for the use in a hydrocarbon conversion reaction, said catalyst containing a titanium zeolite and carbonaceous material, the catalyst containing said carbonaceous material in an amount of from 0.01 to 0.5 % by weight based on the total weight of titanium zeolite contained in the catalyst, the process comprising (i) preparing a catalyst containing the titanium zeolite and (ii) depositing carbonaceous material on the catalyst according to (i) in an amount of from 0.01 to 0.5 % by weight based on the total weight of titanium zeolite contained in the catalyst by contacting said catalyst, prior to using the catalyst in said hydrocarbon conversion reaction, with a fluid containing at least one hydrocarbon in an inert atmosphere, to obtain the carbonaceous material containing catalyst, wherein in (ii), the catalyst is not contacted with an oxygen containing gas.