The invention discloses a toluene disproportionation and transalkylation catalyst, and a preparation method and application thereof. The catalyst is composed of hydrogen-type ZSM-5 molecular sieve and an inorganic refractory oxide, the content of hydrogen-type ZSM-5 molecular sieve is 10 wt%-90 wt%, the molar ratio of silicon oxide to aluminium oxide is 20-100, the specific surface area is 350-550 m<2> / g, the molecular sieve possesses weak acids, strong acids and superacids at the same time, the total acid content is 0.25-0.82 mmol / g, the molar ratio of Bronsted acids to Lewis acids is 1.1-2.1, and the molar ratio of the acid content sum of strong acids and superacids to the acid content of weak acids is 1.2-2. The catalyst is employed for toluene disproportionation and transalkylation, and has the characteristics of high toluene conversion rate and high xylene selectivity.