Structural, textural-mechanical and catalytic properties of ceramometals synthesized from a powdered alloy with the atomic ratio Cu:Fe:Al = 45:22:33 were studied along with the regularities of their synthesis. The alloy was obtained by mechanochemical activation in a high-energy mill for 6–12 min. The resulting powder was subjected to hydrothermal treatment and calcined. The XRD and SEM study revealed that the cermets have the egg-shell microstructure with the metallic core containing mostly the phases of copper and aluminum intermetallics. The oxide shell contains copper oxide and spinel phases. The catalyst has a considerable (for porous solids) mechanical strength of 14–34 MPa, a developed macropore structure, and a satisfactory specific surface area of 10–23 m2/g. The specific activity of ceramometals was shown to change with the content of the Al4Cu9 intermetallic in the composites are discussed. Interrelation between possible atomic structure of active sites and their catalytic activity is discussed.