H-ZSM-5 (Si/Al-2=29) zeolite showed especially high activity in the conversion of ethanol to BTX (benzene, toluene, xylenes), while other zeolites exclusively formed ethylene. Noble metal catalysts supported on H-ZSM-5 (29) zeolite have high activity for the formation of BTX. Of these, Au/H-ZSM-5 catalyst can partially inhibit carbon deposition during the reaction, thus maintaining constant catalytic activity for BTX formation.