The invention discloses a novel ring-cavity multifunctional nuclear system, comprising a neutron source and a reactor; the neutron source is of cylindrical pipe structure, the center of the reactor is of ring cavity structure, the neutron source is extended through the center ring cavity of the reactor and fixed outside the reactor, a core is arranged in the reactor and around the wall of the center ring cavity of the neutron source, the core is radially supported by inner and outer barrels, the reactor is provided with an internal member, a diversion passage is formed between the internal member and the wall of the ring cavity, and the reactor has an independent reactor-target coupling boundary and is able to be compatible with various neutron source systems; the neutron source and the reactor do not share a common coolant boundary, and the requirement of structural materials for the compatibility of coolants is lowered; no liquid environment is provided outside the neutron source, and structural replacement reliability of the neutron source system is improved. By designing the inner and outer barrels for the reactor and using the coolant diversion scheme, the ring-cavity structure core fixation problem and the coolant stagnation problem are solved, and the safety of the reactor is improved.