The electronic modulation between the catalytic active components can improve the catalytic activity and stability of the catalyst. The Pd-based catalysts can easily react with SOX to form stable and inactive sulfates. In this paper, the Pd–Pt-based catalytic combustion catalyst was prepared by replacing part of Pd with a small amount of Pt. The storage tank VOCs catalytic combustion activity and the anti-SO2 poisoning performance of the Pd–Pt-based catalyst and Pd-based catalyst were tested. The Pd 3d binding energy of each Pd-based catalyst was detected by XPS characterization, and the electronic structure changes of Pd active components was analyzed by the change of Pd 3d binding energy. The effect of electrons transfer between Pd and Pt on the improvement of catalytic combustion activity and SO2 poisoning resistance of Pd-based catalysts was analyzed. The results show that the Pt addition can increase the electron cloud density of the Pd active components, and improve the performance of the Pd active components to adsorb and activate oxygen. The reaction of Pd and SOX to form sulfate needs to gain electrons. The increase in the electron cloud density of the Pd active components in Pd–Pt-based catalyst makes it difficult for the Pd active components to adsorb SOX and difficult to react with SOX to form sulfate, thereby preventing the Pd active components from being poisoned and deactivated.