The invention relates to a method for transforming and producing propylene by employing olefin with 4-6 carbon atoms, and provides a technique for transforming and producing propylene by employing C4 to C6 olefin components contained in liquefied gas and light petrol. According to the method, the olefin oligomerization cracking reaction process is changed by transforming the olefin into corresponding alcohol or ether; generation of low-valent by-products such as dry gas and coke in the reaction process is inhibited; the target product selectivity is improved; the material circulation in the process is reduced; and the energy consumption in the process is reduced.