The invention relates to a method for increasing the production of ethylene and propylene, which mainly solves the problems of rather low ethylene and propylene yield, difficult control to the reactor temperature and the coke burning degree of a regenerator and hard guarantee of the average activity level of a catalyst in a reactor of the prior art. The invention properly solves the problems by adopting the technical proposals that: an oxygen compound is taken as a raw material, and the method comprises the following steps that: a) the material enters a reaction zone from the bottom part of a first fluidized bed reactor and contacts with a catalyst to generate an effluent 1; b) the effluent 1 undergoes the sedimentation and the separation by a cyclone separator to obtain a C4 and above hydrocarbon type effluent 2, an ethylene product and a propylene product; c) the effluent 2 enters the bottom part of a second riser reactor and contacts with the catalyst fed from the bottom part of the first fluidized bed reactor to generate an effluent 3; d) the effluent 3 enters a settling section from the upper part of the first fluidized bed reactor; e) from 10 to 70 percent of catalyst by weight separated from the settling section at the upper part of the first fluidized bed reactor enters the bottom part of the regenerator after the steam stripping; f) partial catalyst in the reaction zone of the first fluidized bed reactor enters the bottom part of the second riser reactor from the bottom part of the reaction zone; and g) the catalyst under regeneration returns to the reaction zone at the lower part of the first fluidized bed reactor after the regeneration by the regenerator and the steam stripping by a stripper; wherein the regenerator is a riser, and the method of preparation can be used for the industrial production of ethylene and propylene.