Catalyst plays an important role in the diamond synthesis by static pressure method. It can lower the pressure and temperature required to transform graphite into diamond. The smelted Ni-Mn-Co catalyst is widely used in China. In this paper, a new kind of catalyst is made according to Gou Qingquan's 3 optimization principles for catalyst. When the Ni-Mn-Co catalyst in synthetic bar is removed by quick electrolysis, a thin piece of metal plate, which is level and regular in thickness, is obtained on the negative electrode by control ling electrolytic conditions. The chemical analysis shows that its composition is Ni-Co-Fe, a good catalyst according to Gou's 3 principles, and is called regenerated catalyst of electrodeposition. Large amount of coarse and fine diamond has been synthesized by using the regenerated catalyst of electrodeposition with the cubic type press of 67.84 MN (made in China). TG analyses and strength tests show that the quality of the synthesized diamond is satisfactory. Besides the catalyst can be recycled to use, deducing the cost of diamond production and raising the profits.