The invention relates to a multifunctional rare earth metal-organic framework of which the chemical formula is {[Ln(FDA)1.5(DMF)].DMF}n, wherein Ln is Eu or Tb, the FDA is furyl-2,5-dicarboxylic acid, and the DMF is N,N-dimethylformamide; and the rare earth metal framework structure has an Eu<3+>/Tb<3+> ion in a coordination environment, and forms a three-dimensional framework structure containing one-dimensional honeycomb channels. The preparation method comprises the following steps: by using europium nitrate hexahydrate or terbium nitrate hexahydrate as a metal salt, H2FDA as a ligand and DMF as a solvent, stirring the mixed solution, baking, separating and washing the solid to obtain the multifunctional rare earth metal-organic framework. The multifunctional rare earth metal-organic framework provided by the invention has an fluorescent identification function on cancerigenic organic solvents, such as methylbenzene, benzene and acetone, has excellent selective adsorptivity for gas and high acting force with H2, contains high adsorptive enthalpy, and thus, is a multifunctional novel-structure microporous MOF (metal-organic framework) material.