A catalyst for catalytic cracking to prepare olefins, a preparing method thereof and applications of the catalyst are disclosed. The catalyst includes, by weight, 5-30% of an alkaline earth metal-modified MFI molecular sieve and 0.1-3% of heteropoly acid, with the balance being SiO2, wherein the weight of the alkaline earth metal is 0.5-2% of the weight of the MFI molecular sieve. The preparing method includes (1) weighing a proper amount of the heteropoly acid, dissolving the heteropoly acid into water and fully stirring the solution, (2) adding a proper amount of an ethanol solvent and a proper amount of a silicon-containing precursor into the solution obtained in the step (1), fully stirring the solution, and adjusting the pH value of the solution to be 1-7, (3) adding the alkaline earth metal-modified MFI molecular sieve into the solution in the step (2), fully stirring the solution at a constant temperature, then adding an ionic liquid, and continuously stirring the solution until the solution is converted into sol, and then performing room-temperature ageing to obtain gel, and (4) drying the gel in the step (3) until the weight is constant and grinding the dried gel to obtain the catalyst for catalytic cracking. The catalyst has advantages of a high olefin yield, low reaction temperatures, good catalyst stability, and the like.