The invention relates to a catalytic 
cracking catalyst and a preparation method thereof, wherein the catalyst comprises 15-65% of natural minerals, 10-30% of an 
oxide, and 25-75% of a Y-type molecularsieve and a 
phosphorus-containing and supported 
metal-containing IMF structural 
molecular sieve, the Al distribution parameter D of the 
phosphorus-containing and supported 
metal-containing IMF structural 
molecular sieve is more than or equal to 0.6 and is less than or equal to 0.85, the volume of mesopores accounts for 50-80% of the total volume of pores, the volume of pores with a pore size of 2-20 nm accounts for more than 85% of the total volume of mesopores, the strong acid accounts for 50-80%, a ratio of an acid B to an acid L is 7-30, the 
phosphorus content is 0.1-15 wt%, and the supported 
metal content is 0.1-5 wt%. The preparation method comprises: carrying out mixing beating on the phosphorus-containing and supported metal-containing IMF structural 
molecular sieve, the Y-type molecular 
sieve, the natural minerals and an 
inorganic oxide binder, and carrying out 
spray drying. According to the present invention, with the application of the catalytic 
cracking catalyst in catalytic 
cracking of 
petroleum hydrocarbons, the yield of low-carbon olefins is high.