The dehydrogenation of propane to propylene is endothermic reaction will generate hydrogen, while the hydrogenation of CO2 to light olefins is exothermic reaction with hydrogen as reactant. Using the CO2 hydrogenation reaction to consume the hydrogen from the propane dehydrogenation reaction, which is more beneficial to propylene generation. Thus, a promising approach of coupling propane with CO2 to produce propylene was proposed. A simple wetness impregnation method was used to prepare the In/HZSM‐5 composite catalyst for this coupling reaction. It was characterized by means of XRD, SEM, TEM, H2‐TPR, NH3‐TPD, XPS, TG, and N2 isothermal adsorption‐desorption. Effects of indium loading, feed volume ratio of propane to CO2, reaction pressure and temperature on the coupling of propane with CO2 to propylene were investigated in a fixed‐bed reactor. When the mass content of indium is 12%, the feeding volume ratio of propane to CO2 is 1 : 4, the reaction pressure is 0.3 MPa and the reaction temperature is 580 °C, the propylene selectivity is 71.41%, as well as the conversion per pass of propane and CO2 is 17.74% and 5.08%, respectively.