PURPOSE: To produce hydrocarbons continuously in a slurry bed, by bringing a synthesis gas into contact with a catalyst bed consisting of a crystalline aluminosilicate and active metal or metal compound, etc.

CONSTITUTION: A synthesis gas is brought into contact with a slurry bed prepared by mixing (A) a catalyst obtained by incorporating (i) a crystalline aluminosilicate (preferred example; ZSM-5 zeolite) with (ii) an active metal, e.g. Fe, Cu, Ni or Co, or metal compound, e.g. Fe2O3-K2O-Al2O3, at 95:5W10:90 weight ratio with (B) a slurry-forming liquid (preferred examples; aromatic hydrocarbons, heavy petroleum based hydrocarbons or various silicone oils) at 5: 95W40:60, preferably 10:90W20:80 weight ratio to produce the aimed hydrocarbons. The contact reaction conditions are 280W350°C temperature, 1W60kg/cm2 pressure and 0.1W5 molar ratio (H2/CO) in the synthesis gas.