The invention discloses a multifunctional liquid medicine fertilizer and a preparation method and application thereof, and the multifunctional liquid medicine fertilizer comprises the following components by weight: 10-30 parts of urea, 1-20 parts of ammonium dihydrogen phosphate, 1-10 parts of potassium dihydrogen phosphate, 1-12 parts of potassium nitrate, 1-5 parts of potassium sulfate, 1-10 parts of potassium chloride, 1-5 parts of cytex, 1-5 parts of fulvic acid potassium, 1-5 parts of chitosan oligosaccharide, 0.1-5 parts of chlorantraniliprole, 1-30 parts of hymexazol, 1-10 parts of a surfactant, 1-5 parts of other additives and 60-90 parts of water. The multifunctional liquid medicine fertilizer is a multifunctional medicine fertilizer product prepared by compounding of fertilizers, the cytex, fulvic acid, the chitosan oligosaccharide and other biostimulant substances, and high-efficiency wide-spectrum low-toxicity pesticide chlorantraniliprole and fungicide hymexazol, can provide crops nutrition, also can prevent crop diseases and insect pests, and is convenient to use, time-saving and labor-saving; the cytex, the fulvic acid and the chitosan oligosaccharide can effectively improve crop resistance, can improve pesticide efficacy, reduces pesticide use amount, and improves agricultural production yield, quality and safety.