Abstract: The invention discloses a rare-earth Y-zeolite-containing catalyst for cracking hydrocarbons and a method for preparing the same. The catalyst is characterized in that the rare-earth content in crystal lattice of the rare-earth Y-zeolite, calculated in RE2O3, is from 4 to 15% by weight, the original unit cell size is from 2.440 nm to 2.465 nm and the equilibrium unit cell size after 100% steam-aging treatment at 800° C. for 17 hours is larger than 2.435 nm. The catalyst is obtained in the following steps: the rare-earth Y-zeolite is dried first till its water content less than 10% by weight, then in a weight ratio of SiCl4:Y-zeolite=0.1˜0.9:1, reacts with SiCl4 gas carried by dry air, further is purged by dry air and washed by decationized water to remove the soluble by-products; the resulted rare-earth Y-zeolite is mixed with a binder and a clay, pulped and formed by spary drying.

Abstract: This invention relates to a process for catalytically upgrading light petroleum hydrocarbons accompanied by low temperature regenerating the catalyst, which comprises injecting the light petroleum hydrocarbons into a catalytic cracking reactor, contacting the light petroleum hydrocarbons with a regenerated catalyst and carrying out the reaction, separating the reaction products regenerating the stripped catalyst for 10 to 50 minutes under the regeneration conditions of a temperature of 400 to 600° C. and a pressure of 0.1 to 0.6Mpa; recycling the regenerated catalyst into the reactor. The process of the present invention can reduce the olefin content of gasoline, increase the cetane number of diesel oils, and decrease the contents of sulfur and nitrogen to some extent.