The invention provides a catalytic cracking catalyst, a preparation method and application of a catalytic cracking catalyst. The catalyst contains a substrate, an ultra-stable USY molecular sieve and an ultra-stable IM-5 molecular sieve; on the basis of the weight of the catalyst, the total weight content of the ultra-stable USY molecular sieve and the ultra-stable IM-5 molecular sieve is 50wt%-90wt%; the weight ratio of the ultra-stable IM-5 molecular sieve to the ultra-stable USY molecular sieve is (0.01-0.25) to 1. According to the catalytic cracking catalyst, the gasoline yield in a heavy oil fluid catalytic cracking process can be guaranteed, n-alkanes in oil slurry can be reduced, dehydrogenation reaction can be reduced under the condition of guaranteeing higher conversion rate of catalytic cracking and low carbon olefin selectivity can be improved.