The invention relates to a multifunctional internal combustion arc welding generator. The generator comprises an internal combustion engine, a generator rotor, a trigger circuit, a silicon controlled rectifier switch, a three-phase bridge rectifier, an auxiliary power supply rectifier circuit, an excitation current adjusting circuit, a generator stator, a first switch tube T1, a second diode D2, a first capacitor C1, a first diode D1 and a chopping main loop. The invention provides a structure of a voltage controlled resistor and a control mode aiming at the problem of difficulty in parallel current sharing of a chopping switch tube; the controlled resistor is controlled by an outer ring negative feedback control loop consisting of a photoelectric coupler, an outer ring control circuit, an outer ring given circuit, an outer ring hall current sensor and a voltage sampling circuit; a constant current, constant current and out-pulling and flat hard external characteristic curve is outputby selecting and switching a feedback signal output by the outer ring hall current sensor and the voltage sampling circuit; thus the requirements of argon arc welding, low-hydrogen electrode manual arc welding and cellulose electrode vertical down welding on the external characteristic curve and the welding process performance of a welding machine are met.