The kinetic of Fischer-Tropsch synthesis over a zeolite supported Fe-Co-Ce catalyst prepared using impregnation, was investigated in a fixed bed micro-reactor under the following conditions: reaction pressure 1-10 bar, H-2/CO feed ratio of 1: 2, and gas space velocity (GHSV) of 3000 h(-1) at temperature range of 185-295 degrees C. 35 rate equations for CO consumption, according to the Langmuir-Hinshelwood-Houngen-Watson (LHHW) type, were derived on the basis of a detailed set of possible reaction mechanisms. In order to perceive the effect of water on the FT rate equation, a water term was included in the FT rate equations. The kinetic parameters were estimated with the non-linear regression method, and the activation energies of CO consumption and the FT rate equation (including water term) were obtained as 50.22 and 95.74 kJ/mol, respectively. It was concluded that water has an inhibition effect and changes CO consumption.