The invention provides a method for conducting reservoir property simulation through multi-direction variation function analysis. The method includes the steps that (1), sedimentary microfacies division is conducted according to the regional sedimentary feature; (2), partition is conducted in combination with the reservoir development direction on the basis of the sedimentary microfacies division; (3), variation functions with different phase bands are analyzed respectively for each partition; (4), simulation is conducted on property parameters, such as reservoir porosity and permeability on the basis of the accurate variation function adopting the mode of area dividing and phase belt dividing, and a property parameter model of a reservoir is obtained. By means of the method for conducting reservoir property simulation through multi-direction variation function analysis, the problems that in the process of reservoir property simulation, the meandering river sedimentary sand body is varied and the variation functions are simplex are solved, and a feasible method is provided for fluvial facies reservoir modeling.