A metal-carbon composite supported catalyst for hydrogen production using co-evaporation and a method of preparing the same, wherein the catalyst is configured such that a metal-carbon composite having a core-shell structure resulting from co-evaporation is supported on the surface of an oxide-based support coated with carbon, thereby maintaining superior durability without agglomeration even in a catalytic reaction at a high temperature. Because part or all of the surface of metal is covered with the carbon shell, even when the catalyst is applied under severe reaction conditions including high temperatures, long periods of time, acidic or alkaline states, etc., the metal particles do not agglomerate or are not detached, and do not corrode, thus exhibiting high performance and high durability. Therefore, inactivation of the catalyst or the generation of side reactions can be prevented, so that the catalyst can be efficiently utilized in hydrogen production.