The invention relates to a multifunctional gateway used for a vehicle and a control method thereof. The multifunctional gateway comprises a main controller, transceivers, a 3G module and a WI-FI module, wherein the main controller is a processor of the multifunctional gateway and is in control connection with the transceivers, the 3G module and the WI-FI module, the transceivers are all in communication connection with the main controller and are used for receiving and transmitting network signals, the 3G module is used for providing 3G internet functions, and the WI-FI module is used for being used by a terminal electronic device with the gateway as a WI-FI hot spot. The multifunctional gateway is a gateway integrating an in-vehicle network, the Internet and an inter-vehicle network and extends and integrates firewall functions, remote diagnosis functions, 3G functions, WIFI functions, power supply security level management functions and the like; extension function hardware and software are designed in a modularized mode, meanwhile, the multifunctional gateway serves as a platform-type multifunctional gateway, the extension functions have transplantable performance, the multifunctional gateway is suitable for vehicle models with different configuration parameters and of different levels in a platform, and development cost and develop frequency can be effectively reduced.