A catalyst for hydrotreating a hydrocarbon feed has been developed. The catalyst comprises a metal phosphide and promoter metal component as the catalytic component. At least a portion of the metal promoter component is deposited on the metal phosphide. The metal phosphide/promoter metal component combination is dispersed on a refractive inorganic oxide support. An example of this catalyst is where the metal phosphide is nickel phosphide, the promoter metal is molybdenum and the support is alumina. Methods of preparing the catalyst and hydrotreating processes using the catalyst are also described.