Highly dispersed nano-zerovalent iron catalyst was prepared using hydrogen reduction method loaded on the activated carbon for NO reduction. The catalytic performance for catalytic reduction of NO was evaluated in a fixed-bed reactor. The catalysts were characterized by XRD, TEM, SEM, XPS and so on. The influence of H2 concentration and reduction temperature on the metal dispersion and NO removal performance of the catalyst were investigated, the regeneration of catalyst and the effect of CO on NO reduction were studied, and the CO-NO reaction mechanism was speculated. The results show that with the increase of H2 concentration, the activity of the catalyst was enhanced gradually. With the increase of preparation temperature, the activity of the catalyst was enhanced and then decreased. The particle size of Fe0/BAC-100H2-700 was 9 nm and Fe0 nanoparticles were evenly dispersed on the activated carbon. The NO removal performance of Fe0/BAC-100H2-700 catalyst could reach 100% at 325℃. In the process of NO removal, Fe0 was gradually oxidized to Fe3O4, leading to the deactivation of the catalyst. The deactivated catalyst can recover its activity after regeneration treatment. During the reaction, the addition of CO could reduce Fe3O4 to Fe0, increasing the life of catalyst and slow down the deactivation rate of catalyst effectively.