The present invention relates to a Fe-based hydrogenation catalyst having Fe as a primary active metal component, and zinc and potassium as a first co-active metal component. The molar ratio of the primary active metal component to the first co-active metal component is 0.5-200:1. The Fe-based hydrogenation catalyst in present invention overcomes the problem of limiting to the active metal components as used over decades for the conventional hydrogenation catalyst, and thus has long-term values for industrial application.