The invention provides a catalyst for the selective hydrogenation of an oxygen-containing olefin material, which comprises a porous inorganic carrier, main active components and auxiliary active components, wherein the main active components and the auxiliary active components are loaded on the porous inorganic carrier. The catalyst is characterized in that: the main active components are Pd, Au and Ag; the auxiliary active components may be at least one of Bi, Zr, Ce, Zn, Ni, Cu, K, Mg, Ba, Ca, Sn, Pb, Mn, La, Ti, Sr and Na. Because of the synergistic effect of a plurality of components, the activity and selectivity of the catalyst are both improved obviously; the catalyst has high oxygen poisoning resistant performance and high carbon oxide fluctuation resistant performance, and has functions of selective hydrogenation and selective carbon monoxide oxidation. The catalyst also has the characteristics of long regeneration period, long use period and the like.