Multi-walled carbon nanotubes were synthesized by chemical vapor deposition method using SBA-15 as a template under methane and carbon dioxide as carbon sources. As-synthesized multi-walled carbon nanotubes were treated by NaOH at 80 degrees C to remove the template and retain the Ni and Co metals. The multi-walled carbon nanotubes supported (Co and Ni) were used as catalysts. The catalysts were characterized by SEM, TEM, XRD, Raman and SEM-EDX. The catalytic activity was investigated for the dehydrogenation of ethylbenzene at different oxidants and temperatures. CNTs-Co-10 showed the highest styrene selectivity (92.3%) at 450 degrees C and ethylbenzene conversion (93.5%) at 700 degrees C with a higher styrene yield (80.6). The catalyst also showed a high thermal stability. (C) 2010 Elsevier B. V. All rights reserved.