The invention relates to a method for preparing propylene and BTX by using methyl alcohol. The method comprises the following steps: converting methyl alcohol and a certain amount of water to a section of mixed hydrocarbon product which takes propylene as a main component, enabling the product to pass through an oil-water separator, a dethanizing column, a depropanizing column and a propylene separation tower and dividing the product into dry gas, propylene, propane and C4<+> hydrocarbon components; discharging propylene and part of dry gas as products, introducing rest of dry gas and C4<+> hydrocarbon components into a compound fixed bed aromatization reactor to react so as to obtain a second section of mixed hydrocarbon product which takes aromatic hydrocarbon as a main component, enabling the product to pass through a hexane removal tower and an aromatics separation tower, dividing the product into a C1-C6 non-aromatic hydrocarbon component, BTX and C<9+> heavy aromatics; discharging BTX and part of the C9<+> heavy aromatics as products, jointly introducing the rest of C9<+> heavy aromatics, the C1-C6 non-aromatic hydrocarbon component, propane and water of one section of product into a fluidized bed catalytic cracking reactor to crack into olefin and BTX, and returning the olefin and BTX to the oil-water separator. The method is capable of producing propylene at a maximum extent and can coproduce high-value-added BTX.