The invention discloses a preparation method of a rare earth metal Nd doped H-ZSM-34 molecular sieve, the preparation method comprises the following steps of: adding an aluminum source into water, continuously adding an alkali source and a silicon source, stirring and aging to obtain a clear seed crystal solution; sequentially adding sodium hydroxide and water-soluble silica gel into an aqueous solution, stirring, then sequentially adding aluminum sulfate crystals and the seed solution to obtain a precursor solution; adding a Nd(NO3)3.6H2O solid in the precursor solution, stirring at room temperature, putting the mixture into a kettle, crystallizing, taking out of the kettle, filtering by suction, washing, drying and roasting in air to obtain Nd-doped Na-ZSM-34; adding the Nd-doped Na-ZSM-34into an ammonium nitrate solution, stirring, filtering by suction, washing and drying; and repeating ammonium exchange four times to obtain NH4-ZSM-34, and roasting the NH4-ZSM-34 in the air to obtain the rare earth metal Nd doped H-ZSM-34 molecular sieve. The rare earth metal Nd doped H-ZSM-34 molecular sieve prepared by the method has the advantages of unique pore structure, suitable acidity,good stability, larger specific surface area and the like.