A catalyst for methanol reforming which consists of an alloy represented by the general formula TM, wherein T is at least one element selected from the group consisting of Ti, Zr, Hf, Y, Nb and Zn; and M is at least one element selected from the group consisting of elements (Cu, Ag and Au) belonging to group IB of the periodic table and elements (Fe, Co, Ni, Ru, Rh, Pd, Os, Ir and Pt) belonging to group VIII of the periodic table, said alloy having a surface comprising an oxide including the element T and, dispersed therein, fine metal particles composed of the element M. The catalyst is produced by preparing an alloy having an amorphous phase and/or a microcrystalline phase from a molten composition of TM, and subsequently heating the alloy at 50.degree. to 700.degree. C. in an oxidizing atmosphere or an atmosphere like that in which methanol reforming is performed. Using the catalyst, methanol reforming can be efficiently performed at relatively low temperatures.