The invention provides a pressure cooker with the functions of preventing splashing and collecting oil and water. The pressure cooker comprises a cooker body, a cooker cover and a cylindrical cover (2), wherein a receiving groove (3) is formed in the lower portion of the cylindrical cover (2); the receiving groove (3) is composed of the cylindrical cover (2), an inner ring wall (31) and a groove bottom (32); the inner periphery of the cylindrical cover (2) is provided with a drainage sleeve plate (4) located below a valve bonnet (11); the drainage sleeve plate (4) is composed of a plate bottom (41) and an inclined wall (42) integrated with the plate bottom (41), the inclined wall (42) is raised upwards in an inclined mode, the outer circumferential side of the inclined wall (42) is provided with a side ring (44), the lower end of the side ring (44) is provided with a bottom shoulder (45), and a blocking groove (46) is defined by the bottom shoulder (45), the cylindrical cover (2) and the side ring (44) in a defined mode; a plurality of overflow slotted holes (21) are formed in the cylindrical cover (2), and the oil and the water blocked by the blocking groove (46) flow into the receiving groove (3) through the overflow slotted holes (21). The pressure cooker has the functions of preventing splashing, collecting the oil and the water and reducing noise, is safer and more convenient to use, and has popularization and application value.