The invention discloses a preparation method of a ZnO-ZrO2@SAPO-34 core-shell catalyst. The preparation method comprises the following steps: preparing ZnO-ZrO2 powder; according to a molar ratio of raw materials, namely Al2O3, P2O5, SiO2, MOR (morpholine) and H2O, of 1.0:0.8:0.6:2.5:80, sequentially adding pseudoboehmite, tetraethyl orthosilicate and a templating agent morpholine into an orthophosphoric acid solution while stirring, continuously stirring uniformly, stirring and aging at room temperature for 24h to form a sol system, adding the ZnO-ZrO2 powder into the system according to a core-shell mass ratio of ZnO-ZrO2 to SAPO-34 of 1:4 to 4:1, continuing stirring uniformly, then transferring to a reaction kettle, performing hydrothermal crystallization at 190-210 DEG C for 24-48h, cooling, filtering, washing by using deionized water till a neutral state, drying at 105 DEG C for 6h, and roasting at 500-600 DEG C for 3h to obtain the ZnO-ZrO2@SAPO-34 core-shell catalyst. The catalyst prepared by the preparation method provided by the invention can simultaneously increase the carbon dioxide conversion rate and the low-carbon olefin selectivity in a two-step technology in which the low-carbon olefin is prepared from methanol through CO2 hydrogenation.