Multiple-metal catalysts (Ni-Mn-Ce-K/bauxite) for Water-Gas Shift (WGS) reaction were prepared by impregnation, and the catalytic structure and properties were investigated by N2 physical, XRD, H2-TPR, and CO-TPD. The results indicated that the addition of 7.5% CeO2 improved the activity of the WGS reaction obviously, and also increased the specific surface area and pore volume of the catalysts. The addition of CeO2 decreases the reduction temperature, enhanced the adsorption and activation of H2O2, and improved the adsorption content of CO. Besides, active sites were not changed and the number of active sites on catalysts did not increase obviously.