The high-quality carbon nanofibers were prepared by chemical vapor deposition of gas mixtures of CO-H2 and C3H8-H2 over Fe-Cu and Ni-Cu bimetallic catalysts. The yield and structure of carbon nanofiber produced were altered by the change of catalyst composition and reaction temperature. The high yields were obtained around 500$^{circ}C$ with e-Cu catalyst and around 700-750$^{circ}C$ with Ni-Cu catalyst and the relatively higher yields were obtained with the bimetallic catalyst containing 50-90% of Ni and Fe respectively in comparison with the pure metals. The carbon nanofibers produced over the Fe-Cu catalyst at around 500$^{circ}C$ with the maximum yields had the highest surface ares of 160-200 m2/g around 650$^{circ}C$ which was slightly lower than the temperature for maximum yields. In order to examine the characteristics of carbon nanofibers as catalyst support Ni and Co metals were supporte on the carbon nanofibers and CO hydrogenation reaction was performed with the catalysts. The particle size distribution of Ni and Co supported over the carbon nanofibers were 6-15 nm and the CO hydrogenation reaction rate with the carbon-nanofiber supported catalysts was much higher than that over the other supports.