The invention relates to a method for production of ethylbenzene through liquid phase transalkylation of polyethylbenzene and benzene, and mainly solves the problems of low ethylbenzene selectivity, poor catalyst stability, and short regeneration cycle existing in the prior art. The method of the invention consists of: adopting polyethylbenzene and benzene as reaction raw materials, and under the conditions of a reaction temperature of 180-280DEG C, a reaction pressure of 2.0-4.5MPa, a liquid phase weight hourly space velocity of 0.5-10h<-1>, and a weight ratio of benzene to polyethylbenzene of 3-10, contacting the reaction raw materials with a catalyst to undergo a liquid phase transalkylation reaction so as to produce ethylbenzene. Specifically, the catalyst comprises the following components by weight: a) 30-90 parts of a beta type molecular sieve; and b) 10-70 parts of a binder, wherein the beta type molecular sieve is obtained by making beta type molecular sieve raw powder undergo steps including at least one alkali treatment. The technical scheme employed in the invention well solves the problems, and can be used for the industrial production of ethylbenzene through liquid phase transalkylation of polyethylbenzene and benzene.