The invention relates to a multifunctional intelligent vehicle networking terminal and a method for implementing the multifunctional intelligent vehicle networking terminal, aiming to solve the problem that the existing vehicle-mounted satellite communication products do not have the function of automatically diagnosing the vehicles. The multifunctional intelligent vehicle networking terminal comprises hardware and software; the hardware comprises an upper cover, a lower cover, a satellite positioning system module, a communication antenna, a satellite positioning antenna and the like; the software comprises an operation system layer, a driving layer and an application program layer; the operating system is an embedded real-time operating system and takes charge of the scheduling, management and communication of all tasks; the driving layer is mainly used for completing the configuration, reading, writing and starting of all modules; and the application program layer is used for filling different functions by calling the interface function of the driving layer. Combined with an e-line vehicle networking service system and an intelligent mobile phone, the multifunctional intelligent vehicle networking terminal can realize monitoring, dispatching, fuel consumption management, mileage management, fault diagnosis, a real-time road condition acquisition, incident detection, driving behavior optimization, automatic hibernation, remote upgrade and the like. The multifunctional intelligent vehicle networking terminal is convenient to install and easy to use and has small size and low cost.