SAPO-34 is the most well-known catalyst for MTO (methanol to olefins) reaction because of its good selectivity to light olefins. However, SAPO-34 catalyst is rapidly deactivated by coke, and thus it should be used in circulating fluidized bed (CFB) reactors so that the deactivated catalyst can be continuously regenerated. To apply a catalyst into a CFB reactor, strong mechanical strength of the catalyst as well as good catalytic performance is critical. Therefore, in this study, fluidizable spherical SAPO-34 catalysts to be applied to MTO CFB reactor have been prepared through a spray-drying method, and a formulation composition has been optimized, including binders, matrix materials and additives. In particular, the effects of catalyst phase and acidic solution as an additive have been examined using XRD, N2 isotherm, attrition test, pore size distribution, SEM and TEM.