Abstract: According to one or more embodiments described herein, a method for cracking a hydrocarbon oil may include contacting the hydrocarbon oil with a fluidized cracking catalyst including an ultra-stable Y-type zeolite in a fluidized catalytic cracking unit to produce light olefins, gasoline fuel, and coke. At least 99 wt. % of the hydrocarbon oil may have a boiling point greater than 350° C. The ultra-stable Y-type zeolite may be a framework-substituted zeolite in which a part of aluminum atoms constituting a zeolite framework thereof is substituted with 0.1-5 mass % zirconium atoms and 0.1-5 mass % titanium ions on an oxide basis. The fluidized cracking catalyst may include from 3.5 wt. % to 10 wt. % of one or more Group 7 metal oxides.