The invention discloses a multifunctional finishing agent which comprises chitosan, sericin, titanium dioxide, hydrosol, aloin, tea polyphenol, quaternary ammonium salt, ethylenediamine tetraacetic dianhydride, polyatomic acid, glucose, hexa (4-amino phenoxy) cyclotriphosphazene, ammonium polyphosphate, guanidine carbonate, graphene oxide, montmorillonoid, magnesium chloride, egg protein, polyvinyl alcohol, coupling agents, acetic acid and solvents. The multifunctional finishing agent is reasonable in formula, and a finished fabric is good in antibacterial property, excellent in flame resistance, soft in hand feeling, resistant to creasing and washable.