Four kinds of nano-ferric-oxide Ⅰ-Ⅳ with different appearance and five kinds of 9~14/65-70/17/3/1-adhesive /AP/Al/ferrocence/ordinary ferric-oxide or nano-ferric-oxide Ⅰ-Ⅳ propellants (HTPB propellant) were prepared. The effect of nano-ferric-oxide on the mechanical performances, combustion characteristics and safety properties of HTPB propellant were studied. Results show that nano-ferric-oxide Ⅱ is the best catalyst of the four kinds of nano-ferric-oxide. At 25 ℃, the maximum tensile strength of HTPB propellant with nano-ferric-oxide Ⅱis about 0.83 MPa and its maximum elongation reaches 60%. At -40 ℃, its maximum tensile strength is about 2.00 MPa and the maximum elongation reaches 45%. The burning rate at 6.86 MPa is 43.24 mm/s and the pressure exponent is 0.27. The critical impact energy of 50% explosive (I₅₀) of the propellant slurry is greater than 14 J and the friction sensitivity is less than 80%, indicating that the safety properties of the propellant are same as those of the propellant with ordinary ferric-oxide.