The invention discloses a preparation method of a hydrocracking catalyst. The preparation method comprises the following steps: enabling a magnesium, aluminum and silicon-containing acidic solution and a tungsten-containing alkaline solution to form mixed slurry; enabling a nickel-containing acidic solution and the tungsten-containing alkaline solution to form mixed slurry; then mixing the slurries, adjusting the pH value, aging, mixing and grinding Y molecular sieves and high-molecular polyethylene glycol, adding into mixed slurry, filtering and drying; forming to prepare the hydrocracking catalyst. Through improvement in the hydrogenation activity of the catalyst and effective cooperation of acidic functions, the nitrogen resistance of the catalyst is improved, so that the catalyst still has good hydrocracking activity and better performance of delaying carbon deposition under the condition of higher nitrogen content of a reactant.