the invention provides a catalyst component for CH2ú¢CHR olefin polymerization reaction and its catalyst, wherein R is hydrogen or C1-C6 alkyl or aryl radical; such component comprising magnesium, titanium, halogen and electron donor, such electron donor is more than one kind diester of such formula (I), wherein Ríõ is the same with or different from R1, extracted from C1-C20 alkyl, cycloalkyl, aryl radical, alkylaryl, aralkyl, alkylene, condensed-nuclei aryl radical of substituted or unsubstituted straight/branched chain; such catalyst can be used for propylene polymerization, to get satisfied productivity, and high stereospecificity of polymers, with wide molecular weight distribution, which is good for developing polymers with different brands.