The invention belongs to the technical field of bioengineering, and particularly discloses a new method for producing high-yield ethyl lactate by using a saccharomyces cerevisiae strain and application of the strain. High-yield ethyl lactate is produced through the simultaneous heterologous expression of lactate dehydrogenase, propionyl-CoA transferase and alcohol acyltransferase in saccharomycescerevisiae. Pyruvate decarboxylase is completely knocked out from an original strain, and lactate dehydrogenase is overexpressed to obtain the yeast strain with a certain capability of generating L-lactic acid; a strong promoter TEF1 is selected and adopted for overexpressing propionyl-CoA transferase, a strong promoter PGK1 is selected and adopted for overexpressing alcohol acyltransferase, witha homothallic gene HO as an integration site, a copy number of propionyl-CoA transferase is increased, the saccharomyces cerevisiae strain capable of significantly increasing the yield of ethyl lactate is obtained, and the yield of ethyl lactate obtained by using the saccharomyces cerevisiae strain reaches 353.1 mg/L; compared with the original strain, the yield of isoamyl alcohol is decreased by49.9%, the yield of phenylethyl alcohol is decreased by 59.2%, and the new method meets the higher requirements of yeast in the related field of liquor and has broad application prospects.