The invention discloses a multifunctional key pressing device and a wearable device, comprising a circuit board, a housing and keys, wherein the key is rotatably mounted on the housing, at least two trig card slots are provided for that keys, at least two contact point are arranged on that circuit board, each contact point correspond to different functions, a spring piece is connected with the key, the key is rotated to different angle so that the protrusion is clamped into different trigger card grooves, and the protrusion is clamped into different trigger card grooves, and the spring piece is connected with corresponding different contacts under the state of different trigger card grooves. When the multi-function key pressing device provided by the invention is rotated to the protrusionto be clamped in different trigger card slots, the elastic piece is connected with the corresponding contact point, thereby triggering the function corresponding to the contact point. A key of the multi-function key device can realize multiple functions and save space, and the multiple functions are combined through a mechanical structure. When different functions are switched, the key can only berotated to a corresponding position relative to the housing, which is convenient for a user to operate.