An exhaust gas purifying catalyst comprising: a catalyst substrate; and a catalyst coating layer formed on the catalyst substrate, the catalyst coating layer having a layered structure including: an inside layer (a) containing a component (a-1) and a component (a-2); and an outside layer (b) containing a component (b-1) and a component (b-2), wherein Component (a-1): noble metal selected from a group consisting of Rh, Pd, Pt, Os, Ir and Ru; Component (a-2): a compound oxide of (i) Ce, (ii) Zr, and (iii) an element selected from a group consisting of rare earth elements, alkaline earth elements and Y, the compound oxide of Component (a-2) having a ratio of (i) ceria to (ii) zirconia within a range of more than 40/100 but not more than 100/2 in terms of weight ratio between CeO 2 and ZrO 2; Component (b-1): noble metal selected from a group consisting of Rh, Pd, Pt, Os, Ir and Ru; and Component (b-2): a compound oxide of elements comprising at least (v) and (vi), the compound oxide elements of Component (b-2) being selected from a group consisting of (iv) Ce, (v) Zr, and (vi) an element selected from a group consisting of rare earth elements, alkaline earth elements and Y, the compound oxide elements of Component (b-2) having a ratio of (iv) ceria to (v) zirconia of 0/100 - 20/100 in terms of weight ratio between CeO 2 and ZrO 2. a catalyst substrate; and a catalyst coating layer formed on the catalyst substrate, the catalyst coating layer having a layered structure including: an inside layer (a) containing a component (a-1) and a component (a-2); and an outside layer (b) containing a component (b-1) and a component (b-2), wherein Component (a-1): noble metal selected from a group consisting of Rh, Pd, Pt, Os, Ir and Ru; Component (a-2): a compound oxide of (i) Ce, (ii) Zr, and (iii) an element selected from a group consisting of rare earth elements, alkaline earth elements and Y, the compound oxide of Component (a-2) having a ratio of (i) ceria to (ii) zirconia within a range of more than 40/100 but not more than 100/2 in terms of weight ratio between CeO 2 and ZrO 2; Component (b-1): noble metal selected from a group consisting of Rh, Pd, Pt, Os, Ir and Ru; and Component (b-2): a compound oxide of elements comprising at least (v) and (vi), the compound oxide elements of Component (b-2) being selected from a group consisting of (iv) Ce, (v) Zr, and (vi) an element selected from a group consisting of rare earth elements, alkaline earth elements and Y, the compound oxide elements of Component (b-2) having a ratio of (iv) ceria to (v) zirconia of 0/100 - 20/100 in terms of weight ratio between CeO 2 and ZrO 2. an inside layer (a) containing a component (a-1) and a component (a-2); and an outside layer (b) containing a component (b-1) and a component (b-2), wherein Component (a-1): noble metal selected from a group consisting of Rh, Pd, Pt, Os, Ir and Ru; Component (a-2): a compound oxide of (i) Ce, (ii) Zr, and (iii) an element selected from a group consisting of rare earth elements, alkaline earth elements and Y, the compound oxide of Component (a-2) having a ratio of (i) ceria to (ii) zirconia within a range of more than 40/100 but not more than 100/2 in terms of weight ratio between CeO 2 and ZrO 2; Component (b-1): noble metal selected from a group consisting of Rh, Pd, Pt, Os, Ir and Ru; and Component (b-2): a compound oxide of elements comprising at least (v) and (vi), the compound oxide elements of Component (b-2) being selected from a group consisting of (iv) Ce, (v) Zr, and (vi) an element selected from a group consisting of rare earth elements, alkaline earth elements and Y, the compound oxide elements of Component (b-2) having a ratio of (iv) ceria to (v) zirconia of 0/100 - 20/100 in terms of weight ratio between CeO 2 and ZrO 2.