The invention belongs to the technical field of terahertz wave application, and provides a multi-stage terahertz modulator based on a flexible graphene field effect transistor structure. The multi-stage terahertz modulator is used for overcoming the defects that an existing graphene transistor terahertz modulator is small in modulation depth and only the switch-on state and the switch-off state can be achieved. The terahertz modulator is of an up-and-down-symmetry structure, and comprises a substrate, graphene films, ionic gum, source electrodes, drain electrodes and gate electrodes, wherein the graphene films, the ionic gum, the source electrodes, the drain electrodes and the gate electrodes are symmetrically arranged on the upper surface and the lower surface of the substrate, the graphene films are arranged on the surfaces of the substrate, the source electrodes, the ionic gum and the drain electrodes are arranged on the surfaces of the graphene films, and the gate electrodes are arranged on the surfaces of the ionic gum. According to the terahertz modulator, two flexible graphene field effect transistors are arranged on the two sides of the same flexible substrate, the modulation depth of the modulator can be increased by 37% or above, and meanwhile four-stage modulation of the amplitude of terahertz waves can be achieved through cascade controlling.