The present invention relates to hydrocarbon hydrocracking process including the steps of loading catalyst into the reactor, activating, reaction, etc. The hydrocracking catalyst contains organic nitrogen compound in 0.5-20 wt% of the catalyst, simple substance sulfur in the amount of 30-150 % of the theoretical sulfur demand of the catalyst, and organic solvent in 0.1-50 wt% of the catalyst. Thehydrocracking catalyst with the common action of organic nitrogen compound, sulfur and organic solvent has high sulfur holding rate in activation, less concentrated heat release, lowered temperature rise in the catalyst bed and high activity. It may be applied in various kinds of hydrocarbon hydrocracking process.