Disclosed are a cerium-zirconium solid solution and a preparation method therefor and an application thereof, which belong to the field of adsorbing catalyst materials. The cerium-zirconium solid solution includes a cerium-zirconium solid solution phase with a Ce3+/Ce4+ molar ratio of 0.05-0.8:1. The cerium-zirconium solid solution phase in the cerium-zirconium solid solution of the present application includes trivalent cerium ions and tetravalent cerium ions in a specific ratio. The cerium-zirconium solid solution has a high oxygen storage and release rate, a high oxygen storage and release capacity, and the cerium-zirconium solid solution during the storage and release of oxygen has a stable structure and good catalytic performance; and the catalyst containing the cerium-zirconium solid solution has good catalytic performance under different fuel ratios.