The invention discloses a high-activity copper zinc aluminium low-temperature shift catalyst, which comprises the following components, by mass, 10-45% of CuO, 20-50% of ZnO, 5-20% of Al2O3, 0.5-5% of SiO2, and 1-5% of graphite, with the balance being water. The invention discloses a preparation method. The method includes dissolving copper, zinc, and aluminium salt, and a silicon compound in an organic solvent to obtain a solution I; dissolving a precipitant in water to obtain a solution II; adding the organic solvent and water in a reactor, dropwise adding the solution I and the solution II at the same time to the reactor for precipitation, and filtering, drying and baking the obtained precipitate; and granulating the obtained product, adding graphite for mixing, and performing tabletting to obtain the low-temperature shift catalyst. The specific surface area of active copper microcrystalline is 20-45 m2/g after reduction of the catalyst, and the catalyst is used for low-temperature shift of CO, and has higher reaction activity than a catalyst prepared through a conventional method.