A process for producing ethylene from ethanol combining the catalytic conversion of hydrocarbons: an ethanol feedstock is contacted with a Y-zeolite containing catalyst to give a product stream, and a coked catalyst and an target product of ethylene are obtained after separating the reaction stream; a hydrocarbon feedstock is contacted with a Y-zeolite containing catalyst to give a product stream, a spent catalyst and an oil vapor are obtained after separating the reaction stream, and the oil vapor is further separated to give the products such as gas, gasoline and the like; a part or all of the coked catalyst and a part or all of the spent catalyst enter the regenerator for the coke-burning regeneration, and the regenerated catalyst is divided into two portions, wherein one portion returns to be contacted with the hydrocarbon feedstock, and the other portion, after cooling, returns to be contacted with ethanol feedstock. This process not only reasonably utilizes the excessive thermal energy of the hydrocarbon conversion, but also solves the problem of heat supply for the conversion of ethanol, thus ensuring the continuous catalytic conversion of ethanol and generating enormous economic benefits. For the catalytic conversion of the ethanol, the content of ethylene is 95 vol % or more in the gas product; and the conversion of ethylene is not less than 99%. For the catalytic conversion of the hydrocarbons, the yield for the light olefins increases slightly by at least 2 mol %.