The invention discloses a multifunctional planer tool for processing a wood product, and belongs to the technical field of wood processing. The multifunctional planer tool comprises a rear plate and afront plate integrally formed with the rear plate, the horizontal height of the bottom end surface of the rear plate is lower than the horizontal height of the bottom end surface of the front plate,the position, connected with the front plate, of the rear plate is provided with a groove, the upper and lower ends of the groove communicate with each other, the section of the groove is of a right trapezoid structure, the inclined face of the groove is provided with a blade parallel to the inclined face, the blade is provided with a fixing screw which penetrates through the blade and is embeddedin the rear plate, the bottom of the free end of the rear plate is provided with a notch, the interior of the notch is rotatably connected with a driving shaft in the width direction of the rear plate, and the driving shaft is sleeved with symmetrically arranged rollers. According to the planer tool, a transmission structure enables the planer tool to cut the wood and can also grind the surface of the cut wood through the acting force of the planer tool on the surface of the wood, so that the use flexibility of the planer tool is greatly improved.