The invention provides a method of utilizing adipic acid device exhaust gas to oxidize ethyl benzene (dehydrogenation) to produce styrene. According to the method, an additive modified Ce catalyst isadopted, and adipic acid device exhaust gas is taken as the oxidizing agent applied to ethyl benzene oxidation (dehydrogenation) to produce styrene. The catalyst is prepared by an unconventional co-precipitation method, Ce oxides are taken as the main active component, one or more of Fe, La, Bi, Mg, Ca, Ag, and K is taken as the aid, and the finished catalyst is prepared by steps of washing, drying, and burning. The method has the advantages that industrial waste gas of an adipic acid device is converted into a valuable resource, and the problem that the selectivity of ethyl benzene oxidation(dehydrogenation) is bad is solved.