An exhaust gas purifying catalyst includes a substrate (1) that defines an exhaust gas passage; a lower catalyst layer (2) formed over the substrate, and an upper catalyst layer (3) formed over the lower catalyst layer (2). The lower catalyst layer (2) has a lower catalytic precious metal that contains at least one of Pt and Pd, and a lower-layer carrier that supports the lower catalytic precious metal. The upper catalyst layer (3) has an upper catalytic precious metal that contains Rh, and an upper-layer carrier that supports the upper catalytic precious metal. The upper-layer carrier includes an inorganic mixed oxide that contains Ce, Zr, Al, Nd, and at least one element selected from the group consisting of rare earth elements other than Ce and alkaline earth elements. The Nd is unevenly distributed in covering layers that covers surfaces of interior regions within the inorganic mixed oxide.