A novel gold catalyst supported by In2O3-ZrO2 with a solid solution structure shows a methanol selectivity of 70.1% and a methanol space–time yield (STY) of 0.59 gMeOH h−1 gcat−1 for CO2 hydrogenation to methanol at 573 K and 5 MPa. The ZrO2 stabilizes the structure of In2O3, increases oxygen vacancies, and enhances CO2 adsorption, causing the improved activity.