The invention discloses a preparation method for hydrocarbon fuel and methanol, which is characterized in that a wood powder, a lignin, a lignin monomer and (or) a lignin monomer and/or dimer is used as a raw material, the raw material and a hydrogenation catalyst are filled into a high-pressure autoclave, the pH value of an aqueous phase reaction system is adjusted to 2 to 7, hydrogen is charged into the reaction system under the normal temperature, and the temperature is increased to 40 to 350 degree centigrade, the reaction is executed for 0.2 to 5 hours under 40 to 350 degree centigrade, and the product is divided into two phases after the reaction is completed and the temperature is decreased, the upper layer phase is the hydrocarbon fuel, the lower layer aqueous phase is a methanol solution; the molar ratio of the hydrogenation catalyst and the raw material is 1:10-10000. Compared to the traditional prepared hydrocarbon fuel and methanol, the preparation method for hydrocarbon fuel and methanol has the advantages of economy with wide resources of the raw material and low cost, environment protection, simplicity with simple process, high efficiency with high utilization ratio of the raw material and high productivity, which takes an important role in the utilization of the lignin, hydrocarbon fuel and methanol preparation field with a wide application prospect.