La0.8Sr0.2Fe0.6Ni0.4O3-x - Ce0.9Gd0.1O2-x and La0.8Sr0.2Fe0.8Co0.2O3-x - Ce0.9Gd0.1O2-x nanocomposites were synthesized via ultrasonic dispersion of nanocrystalline powders of perovskite and fluorite oxides in acetone with addition of a surfactant, followed by drying and sintering at temperatures up to 1200°C. The evolution of the structure of samples with sintering temperature was studied by XRD and TEM with EDX and compared with the data on conductivity, oxygen isotope exchange, O2 TPD, H2 and CH4 TPR. Preliminary testing of button-size cells with cathodes supported on thin YSZ layer covering Ni/YSZ cermet demonstrated a high and stable performance of LSNF–GDC composite promising for the practical application.