The invention discloses a sulfur-tolerant catalyst for removing co and vocs and a preparation method of the sulfur-tolerant catalyst. The sulfur-tolerant catalyst comprises a carrier, a coating, Pt, Pd, Ir, auxiliaries, Co, Mo and S. The method comprises the following steps of: dissolving cobalt salt, molybdenum salt and ammonium sulfide under an acidic condition, adding activated carbon into a dissolving solution for dipping, then performing aging, adding hydrazine hydrate for reflux, performing cooling, filtering, washing and drying in vacuum; soaking a carrier in a coating mixed solution, performing purging, drying, calcining, and soaking the carrier in a mixed solution of a chloroplatinic acid solution, a chloropalladic acid solution, a chloroiridic acid solution and a nitrate solution for more than 6 hours by adopting an equivalent-volume impregnation method; finally, adding a reducing agent at 40-80 DEG C, taking out the carrier, washing and drying the carrier so as to obtain a target product, putting the target product and a Co-Mo-S catalyst into a porous container together. The catalyst reduces the activation energy of organic matter, enables the oxidation temperature of the organic matter to be reduced to 300 DEG C to be subjected to oxygenolysis, and is good in sulfur-resistant effect and good in poison resistance to other harmful substances.