Exceptionally high activity for the complete oxidation of propane is reported for the first time using a nanocrystalline cobalt oxide catalyst. The catalyst shows stable activity for prolonged time on stream and when the reaction temperature is cycled. Furthermore, the nanocrystalline catalyst demonstrates considerably higher activity than an alumina supported palladium catalyst, which is recognised as one of the most active reported. The high activity of the cobalt oxide catalyst is associated with the nanocrystalline nature of the material, which gives rise to new catalytically active surface sites. A broader comparison with other reported high activity catalysts emphasises the high efficacy of nanocrystalline cobalt oxide for total oxidation and demonstrates that it has significant potential for important applications, such as control of emissions from liquid petroleum gas powered vehicles and alkane volatile organic emissions from stationary sources.