The invention discloses a preparation method and application of a ruthenium-carbene catalyst. According to the invention, a ruthenium-carbene complex is prepared by a method of olefin metathesis, the device and technology used for preparation are simple, only two-step reaction is needed, the cost is lower, and the production rate can reach 95%. According to the invention, the ruthenium-carbene complex is used as a catalyst for a ring-opening metathesis polymerization reaction of dicyclopentadiene so as to prepare polydicyclopentadiene. The activity of the ring-opening metathesis polymerization reaction is high, the transformation rate to the polymerization of the dicyclopentadiene is 99.8%, the reaction condition is moderate, high temperature and high pressure are not needed, resources are reasonably utilized, the reaction has no bad influence on the environment, and therefore, the method disclosed by the invention is a green process route, and is suitable for industrial popularization.