The invention discloses multifunctional exercise equipment for fitness and rehabilitation, and relates to the technical field of fitness and rehabilitation, a first limb exercise unit and a second limb exercise unit are symmetrically arranged at the top end of a supporting frame, and during actual use, the first exercise unit and the second limb exercise unit can perform exercise operation independently, a user does not need to be limited to limbs to apply acting force at the same time, in addition, the first exercise unit and the second limb exercise unit both utilize the lever principle, the training intensity is changed, the length of a force arm is changed in an electric mode, and adjustment can be conducted even under the condition that the number of balancing weights is not changed. Therefore, the whole set of fitness exercise equipment does not need to be provided with a large number of balancing weights, the manufacturing cost, the factory cost and the market price of the whole set of fitness exercise equipment are reduced, and the market competitiveness of the whole set of fitness exercise equipment is improved.