High catalytic activity in the synthesis of methanol from carbon monoxide and hydrogen can be produced with ceria-supported copper catalysts prepared by a coprecipitation method. The activity at 468 K is comparable with that produced with commercial copper-zinc catalysts at 503-523 K, while it is still unstable. Although the reaction atmosphere is reductive, metallic copper particles on cerium oxide are oxidized during the reaction and the catalyst is activated. Hence, formation of the copper oxide species is indispensable for the appearance of the high catalytic activity.