The present invention discloses a process for the selective hydrogenation of phenylacetylene in the presence of styrene conducted in a combined bed, which process comprises under hydrogenation reaction conditions, passing a hydrocarbon fraction feedstock containing phenylacetylene and styrene through a combined bed reactor containing a catalyst A and a catalyst B to contact the feedstock with the catalyst A and the catalyst B in turn, wherein the catalyst A is a nickel-based catalyst, the catalyst B is at least one selected from the group consisting of palladium-based catalysts and copper-based catalysts, and a weight ratio of the catalyst A loaded to the catalyst B loaded is from 0.5:1 to 5:1.