Samples of Co-MCM-41 with different pore diameters have been synthesized using organic templates with different alkyl chain lengths. The reducibility of cobalt in these highly stable samples was investigated by TPR and X-ray absorption spectroscopy. We have found that the reducibility correlates strongly with the pore diameter of the MCM-41, with the cobalt incorporated in the smaller pore MCM-41 being more resistant to complete reduction. It is proposed that the distribution of cobalt ions in the pore wall is affected by both the preparation procedure and the pore diameter. The size of the metallic Co clusters formed after different reducing treatments correlates linearly with the pore size, giving direct evidence for the effect of the radius of curvature on reducibility. Complete cobalt reduction after TPR causes an inverse variation of the cluster size with the pore size, resulting from differences in the density of Co clusters and from differences in the rate of Co migration and aggregation outside the pores of MCM-41 with different pore sizes.