The invention relates to a modified hydrotalcite-like derived cobalt catalyst, general formula being M/M1(O)-M2(O)-M3(O), wherein M represents Co, M1 represents an alkaline earth metal, M2 representsa rare earth metal, M3 represents Al, n(Co+M1)/n (Al+M2)=2-4, the molar ratio of Co to M1 is 0.5-1.5, and the molar ratio of M2 to Al is 0.005-0.05. The preparation method comprises the following steps: dissolving various metal salts and urea in water to form an aqueous solution, crystallizing the aqueous solution to obtain a solid-liquid mixture, filtering the solid-liquid mixture, respectively washing with water and a modifier, dispersing the mixture in the modifier, carrying out ultrasonic treatment, and filtering and drying the product to obtain a modified hydrotalcite-like precursor; androasting and reducing the precursor to obtain the catalyst. The catalyst is used for synthesizing cyclohexylamine through aniline hydrogenation, the aniline conversion rate can reach 98% or above, andthe dicyclohexylamine selectivity is 3% or below.