Catalyst system for olefin polymerization and use thereof

A catalyst system for olefin polymerization, comprising a main catalyst and a cocatalyst, wherein the cocatalyst comprises a twelve-membered ring compound represented by formula (M),

• wherein in the formula (M), R1-R16 are the same or different, each independently selected from the group consisting of hydrogen, hydroxyl, halogen, cyano, nitro, amino, amine, aldehyde, carboxyl, ketone, alkoxy and hydrocarbyl, and when two adjacent groups on a benzene ring are each selected from the group consisting of alkoxy and hydrocarbyl, the two adjacent groups may optionally form a ring with each other, the ring selected from the group consisting of a saturated or unsaturated monocyclic ring, a saturated or unsaturated polycyclic ring and a combination thereof;
• and wherein R17 to R24 are the same or different, each independently selected from the group consisting of hydrogen and C1-C10 hydrocarbyl, and the amine, aldehyde, carboxyl, ketone, alkoxy and hydrocarbyl may be optionally substituted by one or more substituents.