A catalyst composition includes a metal catalyst dispersed in a molten eutectic mixture of alkali metal or alkaline earth metal carbonates or hydroxides. A process for the catalytic cracking of hydrocarbons includes contacting in a reactor system a carbon-containing feedstock with at least one catalyst in the presence of oxygen to generate olefinic and/or aromatic compounds; and collecting the olefinic and/or aromatic compounds; wherein: the at least one catalyst includes a metal catalyst dispersed in a molten eutectic mixture of alkali metal or alkaline earth metal carbonates or hydroxides. A process for preparing the catalyst includes mixing metal catalyst precursors selected from transition metal compounds and rare-earth metal compounds and a eutectic mixture of alkali metal or alkaline earth metal carbonates or hydroxides and heating it. A use of the catalyst in the catalytic cracking process of hydrocarbons.