The invention discloses a novel multifunctional wood cutting device. The device structurally comprises a safety switch, a cooling port, a control switch, a rotary knob, a baffle, a work table top, a saw blade, a safety protecting cover, an access door and a control main cabinet. According to the device, the saw blade is mounted in the safety protecting cover, when cutting work is not needed, the safety protecting cover can achieve a protecting effect and prevents the saw blade from being damaged by external factors, and the safety performance of the device is also improved; in addition, an ejecting unit arranged in the saw blade can stretch out and contract back freely according to the working state of the saw blade, and manual operation is not needed; and a saw blade pushing mechanism isdriven through a pushing transmission unit, when the saw blade does not need to work, a switch of the pushing transmission unit is turned off, the saw blade can be taken back into a main cabinet chamber by contracting back the saw blade pushing mechanism, unnecessary safety problems caused by exposure of the saw blade are solved, dual safety protection effects are achieved, the equipment using safety can be effectively improved, and the dangerousness is reduced.