The common belief is that water can affect the performance of iron nanocatalysts (FT) in Fischer-Tropsch reaction by reducing the activity, selectivity and the rate of reaction. In this study, using nano iron - Paraffin/polymer matrix as nanocatalysts have enhanced the FTS performance in the presenceof water partial pressure.Thermal decomposition method was successfully used to synthesize iron nanoparticles with different nano size, which measured using scattering of dynamic light. In the Fe - Paraffin/polymer (Fe-P/p) systemsthe polymers;polyethylene glycol (PEG) and styrene butadiene rubber (SBR)were used. The conversion of the synthesis gas which depends on the contact time wasfrom 4% to 74%.XRD and AFM confirmed that there are two forms of iron;Fe 3 O 4 and δ-FeOOH. The high rateof reaction of FTS (R CO ) was observed in the Fe–paraffin– PEG as nanocatalyst. The experimental data was used to analyze the kinetic models for the flow of CO;this gave water partial pressure(P H2O ),kinetic and thermodynamic characteristics of the process.The relationship between the values of the activation energies and the polymers nature of the stabilizers were established.