The invention provides a smectite-humic acid multifunctional degradable liquid mulch film which is prepared by the following steps: modifying smectite and humic acid to form high polymers under the actions of a crosslinking agent and a film former; and mixing with various additives, silicon fertilizer, microelements, pesticide and weedicide to obtain the multifunctional degradable black liquid mulch film. The smectite-humic acid multifunctional degradable liquid mulch film comprises the following components in percentage by weight: 30-50% of humic acid, 15-30% of smectite, 1-10% of sodium hydroxide or potassium hydroxide, 2-8% of crosslinking agent, 10-25% of film former, 5-10% of water glass, 1-3% of micro-fertilizer, 0.1-2% of bactericide and 0.1-2% of weedicide. The mulch film solves the problem of pollution caused by the use of the plastic mulch film in agriculture. The liquid mulch film is sprayed by a common agroatomizer onto the ground surface, and forms a film after being dried. The mulch film can hold the temperature and moisture of soil, prevent ground surface evaporation, enhance the sprouting speed of the plant, protect the fertilizer, reduce the nutrient loss and keep soil from packing together. In particular, after the crops are harvested, the product can quickly be degraded in soil, and have the effects of providing the plant nutrients and improving the soil environment.