The invention relates to the field of optical communication, and specifically relates to a multifunctional photoelectric communication circuit, module, equipment and method. The multifunctional photoelectric communication circuit comprises an SFP (Small Form Pluggable) module, a controller module, a first LD (Laser Diode) driving module, a second LD driving module, an optical transceiving module and an optical receiving module; the photoelectric module can be used for: 1, converting a normal data communication signal into an optical communication signal for transmitting; 2, converting a line monitoring electrical signal into an optical signal, and combining the line monitoring signal and the data communication signal into a compound signal to realize double functions of data communication and line monitoring; 3, when a line fails and needs detection, sending a line detection signal to analyze and determine the type and the position of the failure, so compared with the line detection realized through external dedicated OTDR (Optical Time Domain Reflectometry), the response is timely, the implementation cost is low and the control mode is simple; and 4, receiving and processing the compound signal transmitted by the opposite end through the optical receiving module. The multifunctional photoelectric communication circuit, module, equipment and method have a wide application prospect in optical communication.