The invention discloses antibacterial and antistatic PTT fiber wool-like double-faced woolen cloth and a processing and finishing method thereof.The processing and finishing method comprises the following steps that S1, pretreatment is conducted, specifically, ester bonds on the fiber surface of the wool-like double-faced woolen cloth are hydrolyzed to generate carboxyl, and standby wool-like double-faced woolen cloth is obtained; s2, modification treatment: after washing the standby wool-like double-faced woolen cloth, grafting tyramine to obtain modified wool-like double-faced woolen cloth containing phenolic hydroxyl groups; and S3, finishing treatment: taking the modified wool-like double-faced woolen cloth, washing, carrying out free radical graft polymerization on the modified wool-like double-faced woolen cloth and a vinyl quaternary ammonium salt monomer under a catalytic system so as to graft polyethylene quaternary ammonium salt macromolecules on the surface of the polytrimethylene terephthalate fiber, washing, and drying, so that the modified wool-like double-faced woolen cloth is obtained. High temperature and strong alkali are not needed, the treatment temperature is low, production steps are simple, production energy consumption is low, damage to the fibers is reduced, grafting of vinyl quaternary ammonium salt molecules on the surfaces of the fibers is achieved, the antistatic and antibacterial performance of the fibers is effectively improved, diffuse reflection light of the fabric is increased, and the luster of the fabric is closer to that of wool products.