It was found that the addition of molybdenum to Co/MgO catalysts could remarkably increase the yield and also improve the quality of single-walled carbon nanotubes (SWNTs) from catalytic decomposition of methane. The generation rate of SWNTs was raised at least 10 times and the formation of amorphous carbon was suppressed. But there is an optimum content of Mo and Co, beyond which multi-walled carbon nanotubes (MWNTs) were formed. In other words, the relative amount of SWNTs and MWNTs could be controlled by the composition of catalysts. The obtained SWNTs showed a very high BET surface area. The promotion role of molybdenum was discussed.