The invention discloses a vehicular low-odor PA (polyamide)/ABS (acrylonitrile-butadiene-styrene) composition and preparation method and application thereof in automotive interior decorative parts. The composition is prepared from, by weight, 50-75 parts of PA6, 10-30 parts of ABS, 2-8 parts of a compatibilizer, 2-5 parts of a molecular sieve, 5-15 parts of a toughening agent and 0.2-2 parts of processing auxiliary agents, wherein the total parts by weight is 100 parts; ABS is prepared according to a mass polymerization method; the compatibilizer is selected from copolymer maleic anhydride; the toughening agent is selected from copolymer glycidyl methacrylate. By synergy of a special substrate, the compatibilizer, the toughening agent and special-size molecular sieves, the vehicular low-odor PA/ABS composition is obtained and is ultralow in odor, high in impact toughness and applicable to peripheral parts of automotive dashboards, such as interior decorative parts including central control panels, dashboard covers, air-conditioning air outlets and the like. The vehicular low-odor PA/ABS composition is simple in production process and convenient for large-scale production, and high economic benefits can be obtained.