The invention relates to a solid solution carrier catalyst and particularly relates to a multi-doped cerium-zirconium carrier catalyst. The chemical components of the catalyst in parts by weight are as follows: 30-40 parts of cerium oxide, 30-40 part of zirconia, 1-20 parts of other rare earth oxides and 1-5 parts of transition metal oxides, wherein the other rare earth oxides are lanthanum oxide, praseodymium oxide, neodymium oxide, yttrium oxide and samarium oxide and the transition metal oxides are vanadium oxide, chromium oxide, manganese oxide, ferric oxide, cobaltosic oxide and copper oxide. The invention further provides a preparation method of the catalyst. The preparation method comprises the following steps: mixing all the raw materials with a surfactant, adjusting the pH to 8-10 to obtain a gel-like deposition and calcining to obtain the product. According to the method, the doping defect caused during cerium-zirconium carrier doping is overcome; meanwhile, the thermal stability, aging specific area and oxygen storage amount of the carrier catalyst are improved; the invention also provides the preparation method which is simple in technique process and is favorable for large-scale industrial production.