The invention relates to a multi-chip wafer level fan-out type three-dimensional package structure, comprising at least two rewiring layers, wherein the rewiring layers are dielectric layers, metal connecting structures connected with two sides to match each other and form interconnecting structures are provided on two sides of the dielectric layers, the metal connecting structures expose the dielectric layers to form metal contacts, a plastic sealing layer is arranged on one side of the rewiring layers, chips or passive elements are packaged in the plastic sealing layer, and the adjacent rewiring layers are connected by micro silicon blocks. The invention also discloses a packaging process for the multi-chip wafer level fan-out type three-dimensional package structure. By adopting the design scheme, passive devices of different sizes can be simultaneously integrated and packaged with bare chips, so that the degree of integration is greatly improved, the packaging process is particularly suitable for application of wifi, PA, PMU and the like using a large number of passive devices, and at the same time, the three-dimensional stacking method greatly reduces the packaging area.