The invention relates to a buffering landing leg of a reusable launch vehicle and a buffering method of the buffering landing leg, and belongs to the technical field of landing legs. The buffering landing leg comprises an outer sleeve (5), an inner lining cylinder (3), a concave type cylinder (7), a rotating motor (1), a pushing rod (4), a floating piston (8), a piston cylinder (12), a gasket (10), a honeycomb-like buffering material (11), a spherical hinge (13), a foot pad (14) and an end cover (9). The buffering landing leg is characterized by combining three buffering modes which are the oil buffering mode, the damping rubber buffering mode and the honeycomb-like buffering mode, and multi-level buffering can be conducted. The buffering landing leg can adapt to different initial landing situations and can be retracted and released automatically, and manual ground operation is not needed.