An exhaust gas purifying catalyst which is made excellent in heat resistance and in S-resistance by keeping the catalytic activity of Pt particles in a satisfactory state. The exhaust gas purifying catalyst is made such that a coating layer containing a compound oxide of cerium and an oxide of a metal for stabilizing the oxide of said cerium and an oxide containing no cerium is formed on a substrate, and such that platinum particles are carried on the catalyst. Said compound oxide has a pore volume of 0.1 cc/g or more, and said platinum particles are selectively adsorbed at the electron accepting points on said compound oxide.