The present disclosure provides a solid catalyst component for olefin polymerization, comprising magnesium, titanium, a halogen, and an electron donor, wherein the electron donor is at least one selected from the group consisting of diol diester compounds as shown in Formula (I). The catalyst according to the present disclosure has significantly improved polymerization activity, hydrogen response, and stereoselectivity. According to the present disclosure, when the catalyst system containing a diol diester compound as shown in Formula (I) of the present disclosure is used in olefin polymerization, the catalyst shows good comprehensive performance, including high catalytic activity. In particular, in the presence of highly concentrated hydrogen, the catalyst has an improved hydrogen response and/or isotacticity of the polymers obtained can be significantly improved. The catalyst of the present disclosure is beneficial for obtaining polymers with a high melt index and high isotacticity, and for development of polymers of different grades.