The invention discloses a multifunctional knee joint rehabilitation instrument which comprises a bearing body comprising a work surface, a shank supporting part, a thigh supporting part, a knee support and a magnetic heating device, wherein the bearing body is provided with at least two guide rail structures which are distributed on the work surface or on the two sides of the work surface in parallel; the shank supporting part is obliquely arranged on the work surface, and the end of the shank supporting part can be movably arranged on the guide rail structures and connected with a power device A; the thigh supporting part and the shank supporting part form an inverted V-shaped structure, the thigh supporting part is provided with a non-retractable portion, a retractable portion and a power device B, one end of the non-retractable portion is hinged to the bearing body, one end of the retractable portion is hinged to the end, not connected with the power device A, of the shank supporting part, and the power device B is arranged between the non-retractable portion and the retractable portion; the knee support is used for supporting a knee joint and performing the function of stretching the knee joint, and the knee support is arranged on the connection portion of a large supporting part and a small supporting part; the magnetic heating device is arranged on the bearing body through a lifting device and located above the knee support. A magnetic heating therapeutic instrument and a knee joint moving assembly are integrated, so that the multifunctional knee joint rehabilitation instrument can achieve three therapeutic methods at the same time, and time is saved.