The invention relates to a permeation grouting integrated rod suitable for a shield tunnel, and a construction method of the permeation grouting integrated rod. The permeation grouting integrated rodcomprises a tubular grouting rod, a tubular permeation rod and a grouting tube, wherein a plug is fixed to the head end of the grouting rod, the tail end of the grouting rod is sealed and fixedly connected with the head end of the permeation rod, a partition plate is fixed to the head end of the permeation rod, an end plate is fixed to the tail end of the permeation rod, slurry outlets are evenlyformed in the peripheral wall of the grouting rod, water penetration holes are evenly formed in the peripheral wall of the permeation rod, the grouting rod sequentially passes through the end plate and the partition plate and then extends into the grouting rod, a water outlet pipe is fixed on the end plate, and the water outlet pipe is communicated with the permeation rod after passing through theend plate. The permeation grouting integrated rod has the functions of grouting and drainage, thus can quickly and effectively dissipate excessive pore water pressure caused by shield tunneling, quickly improve the effective stress of a formation soil mass, improving the secondary grouting and grouting reinforcement effect during operation, integrates the permeation rod and the grouting rod, is convenient for installation and convenient to use, and is applicable to the fields of tunnel engineering, underground engineering seepage reinforcement and the like.