Disclosed are an oxalate hydrogenation Au-Ag bimetallic catalyst and a preparation method thereof, which relate to catalysts. The oxalate hydrogenated Au-Ag bimetallic catalyst comprises, by mass percentage, 2-12% of Au, 0.5-5% of Ag and the balance being carriers. The formula of the catalyst is x%Au-y%Ag / carriers, wherein the x% is the mass percentage of Au of the catalyst, and the y% is the massage percentage of Ag of the catalyst. The preparation method includes: modifying the carriers with high polymer, preparing a precursor of the catalyst by adding components of Au and Ag, reducing the precursor of the catalyst at an hydrogen-containing atmosphere, and finally obtaining the oxalate hydrogenated loaded Au-Ag bimetallic catalyst. With the preparation method, methyl glycollate or ethylene glycol can be prepared selectively by controlling reaction temperature. The catalyst prepared by the preparation method has the advantages of excellent low-temperature catalytic activity, fine catalytic stability, long service life and the like.