The energy saving catalyst for ethylbenzene dehydrogenation to styrene which was based on GS-11 catalyst was developed by increasing the content of CeO2, introducing selective assistant and optimizing pore structure. The evaluation results on a negative pressure adiabatic reactor showed that ethylbenzene conversion was 67.3% and styrene selectivity was more than 97.0%, which were obtained under the operation condition of Inlet temperatures for the 1st and 2nd reactors: 615℃and 620℃, LHSV: 0.5h-1, outlet pressure for the 2nd reactor: -50KPa, mass ratio of steam to ethylbenzene: 1.15. Results of accelerated aging test indicated that deactivation rate of the catalyst was -0.00404％/h and better than the newest imported catalyst and GS-11 catalyst.