A method for preparing a metal nanocluster composite material. A porous zeolitic material is treated with an aqueous metal compound solution to form a metal ion-exchanged zeolitic material, heated at a temperature ramp rate of less than 2.degree. C./min to an elevated temperature, cooled, contacted with an organic monomer and heating to induce polymerization, and heating the composite material to greater than 350.degree. C. under non-oxidizing conditions to form a metal nanocluster-carbon composite material with nanocluster sizes between approximately 0.6 nm and 10 nm.