A highly active supported bimetallic nanocatalyst and its preparation method is disclosed. During the preparation, using an ion exchange or absorption resin bearing basic functional groups as the support of the said catalyst, successively introducing the first metal precursor FeCl4− and the second metal precursor (PdCl42−, NiCl42− or CuCl42−) onto the resin through ion exchange process; then under the protection of nitrogen gas, simultaneously reducing the two metals with either NaBH4 or KBH4; washing the material with deoxygenated water and drying it, and the said catalyst is therefore obtained. The supported bimetallic material is characteristic of independent distribution of the two metals within the support. The independently distributed structure of the two metals enhances the catalytic efficiency of the second metal and the catalytic stability.