Disclosed are a catalyst composition for oxidative dehydrogenation and a method of preparing the same. More particularly, disclosed is a catalyst composition comprising a multi-ingredient-based metal oxide catalyst and a mixed metal hydroxide. The catalyst composition and the method of preparing the same according to the present disclosure may prevent loss occurring in a filling process due to superior mechanical durability and wear according to long-term use, may inhibit polymer formation and carbon deposition during reaction, and may provide a superior conversion rate and superior selectivity.