An exhaust gas purifying catalyst includes a monolithic substrate (2), and a transition metal oxide layer (3) formed in the monolithic substrate (2). The transition metal oxide layer (3) contains transition metal oxide powder including: transition metal oxide particles (10); a first compound (20) on which the transition metal oxide particles (10) are supported; and a second compound (30) that surrounds a single body or an aggregate of the transition metal oxide particles (10) and the first compound (20).