An exhaust gas purification catalyst of the present invention includes a catalyst support and a plurality of bimetallic particles supported thereon wherein the bimetallic particles consist of gold and cobalt and have an average particle size of greater than 0 nm but 100 nm or less. A method of the present invention includes heating a mixed solution containing a gold salt, a cobalt salt, a solvent and an inorganic reducing agent to a temperature sufficient to reduce gold and cobalt, thereby producing bimetallic particles consisting of gold and cobalt, and supporting the produced bimetallic particles on the catalyst support.