A nanocomposite catalyst includes a support, a multiplicity of nanoscale metal oxide clusters coupled to the support, and one or more metal atoms coupled to each of the nanoscale metal oxide clusters. Fabricating a nanocomposite catalyst includes forming nanoscale metal oxide clusters including a first metal on a support, and depositing one or more metal atoms including a second metal on the nanoscale metal oxide clusters. The nanocomposite catalyst is suitable for catalyzing reactions such as CO oxidation, water-gas-shift, reforming of CO2 and methanol, and oxidation of natural gas.