Step 1. Install Development Packege.
At least, you need to install gcc & ncurses-devel
yum install gcc ncurses-devel
For someone, they might need more development packages, you could just type below command to install all of the popular kits.
yum groupinstall "Development Tools"
Step 2. Download Kernel Source code
http://www.kernel.org/
Step 3. setup config
It's better to copy the configuration file from your system(if you don't have any idea to setup it)
cp /boot/config-`uname -r` ./config
If you don't have any additional settings, just exit and save the configuration
make menuconfig
Step 4. Compiling
(Here is an example under 8 Cores CPU)
make -j8
Step 5. Installing Kernel
make modules_install install
You could check your kernel verion via "uname -r" after rebooting.