The invention disclose a functional composite dressing with drug sustained release and self-antimicrobial effects and a preparation method thereof, belongs to the technical field of medical devices, and solves the technical problems that the existing polyurethane foam dressing has low tendency to breed bacteria, cannot be used for a long time, and has low tendency to adhere with granulation. The functional composite dressing is composed of a wound contact layer, a foam absorbing layer and an external protective layer arranged orderly from inside to outside, wherein the wound contact layer is acomposite material of a slow release medicine and degradable polylactic acid, and the surface of the wound contact layer contains permeation micropores; the foam absorbing layer is an aqueous polyurethane foam material, and the foam absorbing layer has an open cell unit. The external protective layer is thermoplastic polyurethane with a dense surface. The dressing has excellent antimicrobial effect, has low tendency to adhere to a wound, is low in frequency of dressing change, increases the comfort of patients while reducing the degree of skin scars, and is especially suitable for the treatment of wounds caused by device trauma, burns, bacterial fester and ulceration and other reasons.