The invention relates to a catalyst used for producing olefin through low-carbon alkane dehydrogenation, and a preparation method thereof. The invention mainly aims at solving the problems of low activity and poor stability of dehydrogenation catalysts prepared with prior arts. The low-carbon alkane dehydrogenation catalyst provided by the invention is prepared through an impregnation precipitation method, and comprises the following components, by weight: (a) 0.1-5 parts of Pt or oxide thereof, (b) 0.1-5 parts of Sn or oxide thereof, (c) 0.1-5 parts of alkali metal or oxide thereof, (d) 0.1-5 parts of Fe, Co, Ni, Cu, Zn or oxide thereof, (e) 0.1-10 parts of a Ce-La-O solid solution, and (f) 80-99 parts of a carrier Al2O3. With the above technical scheme, the problems are well solved. The catalyst can be applied in industrial productions for producing low-carbon olefin through low-carbon alkane dehydrogenation.