A　New　type　of　Pd@SiO2/Ce0.4Zr0.6O2　three-way　nanocatalyst　with　core-shell　structure　was　prepared　from　the　colloidal　Pd　nanoparticles.　For　comparison,　the　corresponding　reference　catalyst　Pd/Ce0.4Zr0.6O2　was　synthesized.　The　catalysts　were　characterized　by　powder　X-ray　diffraction(XRD),　transmission　electron　microscopy　(TEM),　nitrogen　gas　adsorption-desorption　and　temperature　programmed　reduction　by　H-2(H-2-TPR).　The　three-way　catalytic　activities　and　the　thermal　stabilities　of　the　two　kinds　of　catalysts　with　different　structure　were　investigated.　It　was　found　that　the　silica　shell　could　prevent　the　aggregation　of　Pd　nanoparticles.　At　the　same　time,　the　silica　could　inhibit　the　redispersion　of　Pd　species　so　that　the　loss　of　precious　metal　Pd　was　reduced.　All　results　showed　that　the　Pd@SiO2/Ce0.4Zr0.6O2　nanocatalyst　with　core-shell　structure　possessed　good　three-way　catalytic　activities　and　high　thermal　stabilities.