The invention relates to a multifunctional life cultivation and health preservation shoe which comprises a shoe body and an insole located in the shoe body, a traditional Chinese medicine composition is arranged on the insole of the shoe body and the insole, the traditional Chinese medicine composition comprises stone needles and traditional Chinese medicine, and the traditional Chinese medicine comprises notopterygium root, divaricate saposhnikovia root, angelica dahurica, angelica sinensis, ligusticum wallichii, asarum, lilac daphne flower bud, radix paeoniae alba, fructus evodiae, cinnamon, safflower and scorpion; and a plurality of magnets are arranged in the heelpiece and on the midsole of the shoe body. The shoe have the beneficial effects that shoes worn by people at ordinary times are designed into the health-care shoes with the health-care function, people can conveniently use the shoes at any idle time, no space is occupied, the concealment is good, and daily work, study and life of a user cannot be affected; the traditional Chinese medicine composition and the magnet supplement each other to realize mutual catalysis and promote molecular movement, so that trace elements are stably released, and the efficacy time is long; and the shoe can warm channels for dispelling cold, dispel wind and relieve pains, and treat soreness and pain of muscles and bones, such as bone jaundice rheumatic arthritis and rheumatic arthritis.