The invention provides an iron-based catalyst for hydrogenation of an oil product as well as a preparation method and application thereof. An active ingredient metal of the iron-based catalyst for the hydrogenation of the oil product is iron or a mixture of iron and assistant metal; based on oxide, by taking the total weight of the iron-based catalyst for the hydrogenation of the oil product as a reference, the total content of the active ingredient metal is 5 to 30 percent. The iron-based catalyst is prepared by the method comprising the following steps: mixing absolute ethyl alcohol, acetone and 2,2-dipyridine to obtain a mixed solvent; dissolving the salt of the active ingredient metal into the mixed solvent to obtain impregnating solutions; carrying out isometric impregnation on a carrier by adopting the impregnating solutions to obtain a catalyst semi-finished product; putting the catalyst semi-finished product in the air and standing; then drying and roasting to obtain the iron-based catalyst for the hydrogenation of the oil product. The invention also provides a preparation method of the catalyst and application of the catalyst to the hydrogenation of the oil product.