A　series　of　Cu/Fe2O3　catalysts　with　different　Cu　loadings　were　prepared　using　a　co-precipitation　method,　and　the　relationship　between　their　structures　and　catalytic　activities　for　the　water　gas　shift　(WGS)　reaction　was　carefully　examined.　It　was　found　that　the　as-prepared　Cu/Fe2O3　catalysts　exhibit　excellent　WGS　performances,　in　particular,　the　one　containing　20%　(w)　CuO　(CF-20)　shows　the　best　catalytic　activity,　with　CO　conversion　of　97.2%　at　250　degrees　C.　Its　catalytic　stability　is　also　outstanding　during　the　temperature　range　of　250-400　degrees　C.　X-ray　diffraction　(XRD),　N-2　physisorption,　and　H-2　temperature　program　reduction　(H-2-TPR)　techniques　were　used　to　characterize　the　crystal　phases,　textures,　and　reduction　properties　of　the　Cu/Fe2O3　catalysts.　The　results　show　that　the　generation　of　CuFe2O4,　which　has　a　spinel　structure　in　stabilizing　Cu　microcrystals　and　is　easier　to　be　reduced　at　low　temperature,　resulting　in　enhancing　their　reduction　properties　and　facilitating　electrons　transfer　between　Cu　and　Fe2O3,　thus　greatly　improving　the　catalytic　performance.　Furthermore,　(NH4)(2)CO3　solution　treatment　of　the　as-prepared　catalysts　was　performed　to　study　the　effect　of　bulk　CuO　existed　in　the　Cu/Fe2O3　catalysts.　The　result　suggests　that　the　bulk　CuO　is　favor　for　H　atom　transfer　between　Cu　and　Fe2O3,　thus　promoting　the　reduction　of　CuFe2O4,　finally　improving　the　catalytic　performance.