In recent years, the efficient utilization of light alkanes, especially iso-butane and n-butane, has attracted increasing attention. Here, a series of ZSM-5 zeolite-encapsulated Pt-xZnO (x = 0, 0.05, 0.1, 0.25, 0.5, 1) catalysts were prepared via a one-pot hydrothermal method. The dispersion of metal particles, state of metal species, structure, and acidity of catalysts were confirmed by multiple physical and chemical characterizations. The catalysts were used in the catalytic cracking of iso-butane; the conversion of isobutane would increase with the increase of ZnO content.