The catalytic hydrogenation of unsaturated bonds in petroleum resin is a promising way to enhance the properties of petroleum resin in terms of weather resistance, stability, and compatibility. However, the presence of sulfur compounds in petroleum resin poses a high challenge to hydrogenation catalysts. Herein, based on the cation-tunability of hydrotalcite-like compounds, a series of PdNi bimetallic catalysts are prepared by calcination−reduction of their hydrotalcite-like precursors and applied in the hydrogenation of dicyclopentadiene (DCPD) petroleum resin. By tuning the molar ratios of Pd/Ni and optimizing the reaction conditions, the optimal Pd 1 Ni 1 −MgAlO− HT catalyst can obtain the hydrogenated DCPD petroleum resin with saturation up to 91.5% at 255 °C, 10 MPa H 2 pressure, and 3 h reaction time with the presence of 50 ppm sulfur compound. As compared with the monometallic catalyst, the PdNi bimetallic catalyst presents higher sulfur tolerance in the hydrogenation of DCPD petroleum resin. Combined with the analysis results of XRD, XPS, TEM, and H 2 -TPR, the enhanced catalytic performance of the Pd 1 Ni 1 −MgAlO−HT catalyst can be attributed to the small particle size, high dispersion of metal particles, and the synergy effect between Pd and Ni species. This work will guide to design a highly efficient sulfur tolerance catalyst derived from the hydrotalcite-like precursor for the hydrogenation of polymers.