The invention relates to a high-selectivity catalyst for preparing phthalide by hydrogenation of phthalic anhydride, which is a supported monometallic and bimetallic catalyst prepared by taking a hydrotalcite or hydrotalcite-like material as a precursor as well as preparation and application thereof. The composition of the catalyst is MM' / S, wherein the supported amount of metal M (Ni, Co, Fe, Cu, Mo and W) is 5-70%, the supported amount of metal M' (Au, La and Mg) is not higher than 30%, and S is an oxide of Al, Zn, Nb, Fe, Zr, Cr and Ti. The catalyst disclosed by the invention is applicable to kettle-type (intermittent or continuous) stirring reaction and is also applicable to continuous fixed-bed hydrogenation reaction, the selected solvent is gamma-butyrolactone, the activity for phthalic anhydride hydrogenation is high, the selectivity of phthalide is high, the phthalic anhydride conversion ratio can reach 99%, and the phthalide selectivity can reach 98%. The catalyst has high activity, high selectivity and high stability, raw materials are easily obtained, and the process is simple, so that the catalyst has a good industrial prospect.