The invention relates to a catalyst in organic oxidation reaction, in particular to a noble metal catalyst for propylene oxidation, comprising effective catalytic matters of palladium, copper and cerium; and the effective catalyst is fixed on a carrier which is prepared by silicon dioxide-phthalocyanine. The preparation method comprises the following steps of: steeping metal salts of palladium, copper and cerium on the surface of the carrier to prepare a protein structure catalytic material; and preparing a finished catalyst by drying, reducing, ageing and activating. The invention solves theproblem of poor repeatability or higher cost in the traditional noble metal catalyst for propylene oxidation.