A cobalt catalyst supported on titania-doped silicon carbide for the Fischer – Tropsch synthesis was synthesized and comprehensively studied using various physicochemical methods. The dynamics of behavior and deactivation of the catalyst, which showed a stable operation for 1500 hours, was studied in a continuous pilot-plant lifecycle test with periodic variation of flow rate, syngas pressure and process temperature. This catalyst has two types of active sites on which products with different parameters of the Schulz – Flory distribution are formed. Depending on the process mode, the efficient formation of «soft waxes» or products with a higher molecular weight can occur.