The invention discloses a low-carbon alkane dehydrogenation olefin preparation catalyst and a preparation method of the catalyst. The catalyst comprises an active component, an auxiliary agent and a carrier, the active component is one or more of Fe, Co, Ni, V, Mo, Cr, Mn, Cu or Zn, the auxiliary agent is one or more of IA group, IIA group, rare earth elements, Al, Ti, Zr, Nb and Ga, and the carrier is silicon-based modified petroleum coke-based activated carbon. The preparation method comprises the following steps: (1) pretreating petroleum coke; (2) preparing silicon-based modified petroleumcoke; (3) preparing a composite oxide containing an active component and an auxiliary agent; (4) uniformly mixing the silicon-based modified petroleum coke, the composite oxide and an activating agent, and activating same; and washing and drying the sample obtained in the step (4) to obtain the catalyst. The prepared catalyst has the advantages of good active component dispersion, high utilization rate, high low-carbon olefin selectivity and the like.