A porous honeycomb structure including multiple co-catalyst particles and multiple inorganic binder particles of smaller particle diameter than the co-catalyst particles. Each co-catalyst particle is comprised of a ceria-zirconia solid solution. The inorganic binder particles reside between the co-catalyst particles. In the honeycomb structure, an exposure fraction of the co-catalyst particles from the inorganic binder particles on a cross-section of the honeycomb structure is within a range of 3 to 10%.