The invention discloses a multi-effect biofertilizer, comprising sarcandra glabra, cortex fraxini, radix stemonae, lightyellow sophora root, pin needles, isatis root, phellodendron, aloe, humic acid and inorganic fertilizers of nitrogen, phosphorus and potassium; the weight percentages of the components are as follows: 1-2.5% of sarcandra glabra extract, 1-2.5% of radix stemonae extract, 1-2.5% of phellodendron extract, 5-10% of aloe extract, 10-15% of pin needles, 7-10% of isatis root, 7-10% of cortex fraxini, 10-15% of lightyellow sophora root, 15-20% of humic acid, 10-20% of available nitrogen, 5-10% of phosphorus pentoxide and 5-10% of potassium oxide. The Chinese medicinal herbs of the invention have the advantages of sterilization and disinfestation, safety without pollution, combined herbs and fertilizers, compound multielements, comprehensive nutrition, long-acting slow release and improved utilization rate. The multi-effect biofertilizer can be widely applied to such cash crops as corn, cotton, rapeseed plants, peanuts, legume, silkworm and mulberry, tea forests, fruit grove and various vegetables.