The invention discloses an antibacterial and anti-felting wool fabric finishing method, and belongs to the technical field of spinning. The method includes the steps of firstly, adding hydrogen peroxide and sodium hydroxide to preprocess wool fabric so that scale cells and cortex cells of surfaces of wool fibers can be broken; secondly, conducting enzyme treatment, wherein keratinase and alkaline protease are added for concerted reaction enzymolysis, and after keratin enzymolysis is conducted on the outer layers of scales through keratinase, enzymolysis is conducted on cystine of keratin protein of parts such as inner stratum corneum and cortical layers of wool through alkaline protease; thirdly, conducting chemical finishing, wherein twice soaking and twice rolling are conducted on the wool fabric through a glycerol citric acid ester solution. By means of the method, the effect of increasing wool anti-felting and antibacterial capacity is remarkable, reaction time is short, subsequent processing is simple, the influences on breaking force and whiteness of the processed wool fabric are small, dyeing performance is greatly improved, the directional friction effect is greatly reduced, high economic benefits are achieved, and industrial popularization is facilitated.