A catalyst composition is provided for use on a diesel particulate filter which facilitates the oxidation of soot from diesel engine exhaust and which generates low NO2 emissions during regeneration of the filter. The catalyst composition includes a catalytic metal comprising a platinum group metal selected from Pt, Pd, Pt—Pd, or combinations thereof, an active metal oxide component containing Cu and La; and an oxide component selected from oxides of Co, Fe, or combinations thereof. The catalyst composition includes a support selected from alumina, silica, zirconia, or combinations thereof. The catalyst composition may be provided on a diesel particulate filter by impregnating the filter with an alumina, silica or zirconia sol solution modified with glycerol and / or saccharose, impregnating the filter with a stabilizing solution, and impregnating the filter with a solution containing the catalyst metal precursor(s), the active metal oxide precursor(s) and the Co or Fe oxide(s). The resulting catalyst coated diesel particulate filter provides effective soot oxidation, exhibits good thermal stability, has a high BET surface area, exhibits minimal backpressure, and produces low NO2 emissions during filter regeneration.