The invention relates to a fabric multifunctional foaming material with the functions of magnetism, far infrared, anion, traditional Chinese medicine, aroma, antibiosis, adsorption and the like. The invention mainly solves the technical problems that the conventional fabric products have single function, have side effect on a human body and the like. The fabric multifunctional foaming material is prepared by mixing NdFeB powder microcapsules, nano silver powder microcapsules, tourmaline powder microcapsules, Chinese medicinal powder microcapsules, plant essential oil microcapsules, a foaming base material, a wetting agent and a diluent. The preparation method comprises the step of uniformly mixing the raw materials according to a certain proportion. The fabric multifunctional foaming material can be applied to slurry for screen printing of fabrics. The foaming material is applied to the fabrics, so the fabrics have the functions of magnetism, far infrared, anion, traditional Chinese medicine, aroma, antibiosis, adsorption and the like, have no harm to a human body and improve the quality of life of people.