For a perovskite system Lao.TSr03Col.xFe~O3, the effect of partial substitution of Co by Fe on the particle microstructure and chemical composition of the surface layer has been studied. Iron incorporation was found to cause a structure rearrangement from the hexagonal (at x < 0.05 ) to the cubic (at x>0.05) type, which was not accompanied by any appreciable variation of the surface layer composition. A transient sample with x = 0.05 was characterized by a high degree of misorientation of microblocks and had the highest activity in the CO catalytic oxidation.