A coated stent graft (1) includes a stent body (2) and a graft (3) fixed on the stent body (2), the stent (2) body being divided into a plurality of stent sections (7) along a center axis (X) of the stent graft (1), each stent section (7) extending around the center axis (X) by one circle, wherein each stent section (7) is formed by connecting a plurality of wave rods (8) end to end in a wavy structure. The stent body (2) consists of a small diameter section (4), a transition section (5) and a large diameter section (6) along the center axis (X), and the transition section (5) connects the small diameter section (4) with the large diameter section (6), wherein a distance between adjacent stent sections in the transition section (5) is larger than a distance between adjacent stent sections in the small diameter section (4), and is smaller than a distance between adjacent stent sections in the large diameter section (6). The stent graft (1) of the invention has improved bending properties.