The invention provides a preparation method of a Pd-Cu / modified attapulgite clay catalyst, which comprises the steps of preparing a dispersant solution, and adding attapulgite clay; stirring and performing ultrasonic treatment on the formed suspension; standing and performing heat treatment on the upper-layer suspension; centrifuging and drying to obtain a modified carrier; preparing an aqueous solution of copper salt, palladium salt and urea, and impregnating the modified carrier; slowly drying and quickly roasting to obtain a finished product of the catalyst. The catalyst has high initial activity, good stability and relatively wide range of application conditions, and can perform effective catalytic oxidation of CO under the reaction conditions of reaction temperature of (-50)-100 DEG C, air speed of 2,500-10,000 / h, CO content of 10-10,000ppm and relative humidity of feed gas of 20-100%, and the deactivated catalyst can be regenerated. The preparation method of the catalyst provided by the invention has the advantages of simple process, easiness in operation, low cost and good application prospect.