The invention discloses a multi-function soft wall, comprising a surface printing layer and a base material, the base material further including a top layer, and a second layer, a third layer and a bottom layer that are all foaming layers, wherein both the second layer and the third layer have a foaming ratio less than that of the bottom layer, and a fiber layer is disposed between the third layer and the bottom layer. The invention further provides a method of manufacturing a multi-function soft wall, comprising: sequentially coating a top layer, a second layer, a third layer, a fiber layer and a bottom layer on a release paper, respectively, and then obtaining a base material, and performing a foaming process with respect to the second layer, the third layer and the bottom layer, respectively, and performing a drying and cooling process after the coating step; and separating the base material from the release paper, and printing a surface printing layer on the top layer. The multi-function soft wall can release negative ions, and continuously eliminate various pollutions indoors.