The present invention relates to a catalyst for hydrocarbon steam cracking for the production of light olefin, a preparation method of the catalyst and a preparation method of olefin by using the same. More precisely, the present invention relates to a composite catalyst prepared by mixing the oxide catalyst powder represented by CrZrjAkOx (0.5≦j≦120, 0≦k≦50, A is a transition metal, x is the number satisfying the condition according to valences of Cr, Zr and A, and values of j and k) and carrier powder and sintering thereof, a composite catalyst wherein the oxide catalyst is impregnated on a carrier, and a method of preparing light olefin such as ethylene and propylene by hydrocarbon steam cracking in the presence of the composite catalyst. The composite catalyst of the present invention has excellent thermal/mechanical stability in the cracking process, and has less inactivation rate by coke and significantly increases light olefin yield.