The present invention relates to a hydrocarbon conversion catalyst comprising i) a catalyst, in oxidic form, metals M1, M2, M3 and M4, wherein: M1 is selected from Si, Al, Zr, and mixtures thereof; M2 is selected from Pt, Cr, and mixtures thereof; M3 is selected from W, Mo, Re and mixtures thereof; M4 is selected from Sn, K, Y, Yb and mixtures thereof; and ii) a hydrogen scavenger selected from at least one alkali and/or alkaline earth metal derivative, preferably in metallic, hydride, salt, complex or alloy form; as well as a hydrocarbon conversion process utilizing this catalyst.