Method for catalytic conversion of petroleum hydrocarbons

The invention provides a method for catalytic conversion of petroleum hydrocarbons. High-sulfur wax oil is contacted with a heat regenerated catalyst on the lower part of a catalytic cracking unit reactor for cracking reaction, the generated oil gas and a charcoal-containing catalyst ascend for selective hydrogen transfer reaction and isomerization reaction under a certain reactive environment, the reaction oil and gas are separated to obtain reaction products containing liquefied gas, gasoline and catalytic wax oil, and the spent catalyst is subjected to steam stripping and regeneration to be reused, wherein the catalytic wax oil and any processing wax oil enter an aromatic hydrocarbon separation unit and is subjected to aromatic hydrocarbon separation, and preferably the fractions richly containing the aromatic hydrocarbons are returned to a catalytic cracking unit. By the method, liquid yield and propylene yield are increased, and a new path for ensuring pollution-free oil refining process as well as pollution-free oil refining products is provided.