The invention provides a multifunctional steam trap which comprises a valve body, a valve seat, a function switching assembly, a valve deck, a bottom end cover, a drainage function module and a valveelement. An inlet and an outlet are formed in the valve body, a plurality of fluid channels communicated with the inlet and the outlet are formed in the valve body, the valve seat movably penetrates through the top of the valve body, and the valve deck covers the top of the valve seat; one end of the hydrophobic function module abuts against the valve deck, the other end of the hydrophobic function module is connected with the valve element, and the valve element can be driven to move to abut against the valve seat or be separated from the valve seat; the bottom end cover is arranged at the bottom of the valve body, and the function switching assembly is arranged on the valve seat and stretches across each fluid channel; and when the valve seat moves, the function switching assembly can bedriven to move to enable any one fluid channel to be in a connected state or all the fluid channels to be in a cut-off state, so that the multifunctional steam trap valve is controlled to be switchedin different function modes. According to the multifunctional steam trap, a plurality of functional modes can be manually switched, the functions of cut-off, drainage and conduction are achieved, anddifferent functional modes can be selected and used according to actual needs.