The invention discloses a hydrocracking method for producing high-quality gasoline and diesel. The method comprises the steps: subjecting animal and vegetable oils to hydropretreating, then, enabling the pretreated oil to enter a hydrocracking reactor, and carrying out a contact reaction with a hydrocracking catalyst I under the conditions of relatively low temperature and high volumetric space velocity; then, mixing the product with a hydrorefining product of inferior diesel, and then, carrying out a contact reaction with a hydrocracking catalyst II; and subjecting the reaction product to separation and fractionation, thereby obtaining the high-quality gasoline and diesel. According to the method, separate characteristics of animal-and-vegetable-oil hydrogenation modification and inferior diesel hydro-conversion processes are fully taken into account, and the two kinds of processes are effectively combined reasonably, so that high-octane gasoline products and diesel products can be produced simultaneously, and the lubricating property of the diesel products is improved.