The invention relates to a methanol to aromatic catalyst containing two molecular sieves and a preparation method. The methanol to aromatic catalyst comprises, based on the weight of the catalyst, 40 wt%-85 wt% of the total content of a zinc-aluminium compound modified ZSM-5 molecular sieve and a nickel modified Y-shaped molecular sieve, 0.5 wt%-5.0 wt% of rare earth oxide and the balance aluminium oxide binder, wherein the ratio of the weight content of the zinc-aluminium compound modified ZSM-5 molecular sieve to the modified Y-shaped molecular sieve is 9:1-1:1. The invention further discloses a method for preparing the catalyst. The methanol to aromatic catalyst is used in a methanol to aromatic process, has high light weight aromatic yield and is low in dry gas and liquefied gas productivity. The wastage rate of zinc oxide active components of the catalyst is low, and the stability is high.