The invention discloses a cotton fabric high-efficiency dyeing and finishing process including modification treatment, scouring and dyeing in one bath, soaping, color fixation, post-finishing, drying, sizing, calendering, and coiling. Ultrasonic waves are used for pretreatment; at the same time, before a dyeing process, a fabric is subjected to low temperature plasma treatment, then the fiber fabric is subjected to modification treatment with 2,3-epoxypropyltrimethylammonium chloride and finally is treated by chitosan, and thus the fabric dyeing degree is increased, and the difficulty of the subsequent dyeing steps is reduced; with adopting of scouring and dyeing in one bath, the efficiency is increased, and the cost is reduced; in the dyeing process, a large amount of alkaline substances and inorganic salts are not used, natural dyes are used, and at the same time, a colophony powder is added as a color fixing agent, so that the color fixing effect is enhanced, besides, the environmental pollution is avoided, and the requirements of environmental protection are met; montmorillonite is used for flame retardant treatment on the fabric, so that the flame retardancy of the fabric is high; and with increase of anti-yellowing finishing, a final fabric does not easily turn yellow.