This invention provides a catalyst composition for preparing hydroxylamine, which comprises palladium, a platinum compound, a germanium compound and a carrier, wherein a halogen concentration of the composition is no more than 10 ppm. The catalyst composition is prevented from poisoning by halogens, and therefore the catalyst composition has high selectivity and catalytic activity. Further, the weight ratio of palladium and platinum in the catalyst composition ranges from 100:1 to 1000:1, such that the catalyst composition can be used to solve the commonly observed problem, i.e., decreased selectivity due to the excessive amount of platinum.