The invention relates to a multifunctional high-pressure milling cone, which comprises a milling cone body and a milling cone head, wherein a circulating hole is formed in the milling cone head. The multifunctional high-pressure milling cone is characterized in that the milling cone body is connected with the milling cone head by a buckle coated by a metal-to-metal adhesive; a ball seat and a steel ball which are used for seat sealing the circulating hole are arranged inside the milling cone head; the ball seat is fixed inside the milling cone head through shearing dowels; and an abrasive blasting hole and a stabilizing seat hanging hole which is communicated with a pressure transmitting pipe are respectively arranged in the milling cone head. The multifunctional high-pressure milling cone has the advantages that the switch between the high-pressure abrasive blasting hole (or the stabilizing seat hanging hole) and a general circulating hole is ingeniously realized, so that the high-speed jet during high-pressure abrasive blasting and jetting and the pressure stability in the process of pressure holding and heat hanging can be ensured, the efficiency and the safety of windowing sidetrack drilling operation are improved; the operation process is simplified; and the labor intensity of operators is reduced and the operation cost is reduced. The milling cone has structural design and favorable wear resistance.