To increase the yield of light olefins during the catalytic pyrolysis of alkanes, a novel hierarchical Fe-incorporated ZSM-5 molecular sieve (FeM-Z5) was synthesized using an Fe-based metal-organic framework (Fe-MOF) as a mesoporogen and iron source through the dry gel conversion (DGC) method. In contrast to the conventional method of incorporating Fe species into ZSM-5 via impregnation, the DGC method incorporates Fe species into the framework of ZSM-5, decreasing the amount of Brønsted (B) acid sites and thereby inhibiting the side reactions of hydrogen transfer during the catalytic pyrolysis of alkanes. Compared with the FeN-Z5 catalyst prepared by the DGC method with Fe(NO3)3 as an iron source, FeM-Z5 had a larger amount of strong B acid sites and more mesopores with a size range of 10-40 nm originating from the decomposition of Fe-MOF; these aspects improved n-pentane pyrolysis and ethylene and propylene diffusion. As a result, the optimal FeM-Z5 catalyst exhibited the highest yield of ethylene and propylene (33.4 wt%) and the lowest deactivation rate (0.07%/h) among the prepared catalysts during the catalytic pyrolysis of n-pentane.