The invention is directed to a method of rejuvenating silicoaluminophosphate molecular sieve catalyst that has been deactivated hydrothermally as well as a method of using the rejuvenated catalyst to make an olefin product from an oxygenate feed. In particular, the invention is directed to rejuvenating the catalyst by contacting it with warm water, ammonium salts, dilute acids or low pressure steam until the catalytic activity level of the catalyst has been increased to the desired extent.