The invention relates to a catalyst and to a process for hydrogenating organic compounds. In particular, the invention is directed to a process and catalyst for hydrogenating organic compounds with hydrogen. The organic compounds are subjected to hydrogenation in the presence of a catalyst comprising nitrogen-doped carbon nanotubes as a catalytically active component, wherein the proportion of nitrogen in the nanotubes is in the range of from about 0.05 to 20 wt. %.