The present invention relates to a VEGF-Grab protein-drug conjugate and a use thereof and, more particularly, to a conjugate of a fusion protein in which a VEGFR1 domain 2, a VEGFR1 domain 3, and an antibody fragment are connected and a drug, a pharmaceutical composition for prevention or treatment of cancer or angiogenesis-related disease, comprising the conjugate, and a method for prevention ortreatment of cancer or angiogenesis-related disease. Serving as a multi-paratopic VEGF decoy receptor, the conjugate including a VEGF-Grab protein and a drug of the present invention can be used as amulti-purpose platform for treatment of cancer or angiogenesis-related disease.