The invention discloses a method for simultaneous remote sensing of the underwater terrain and features of an island. The method comprises the following steps: (A) establishing a physical analysis model of water surface remote sensing reflectivity, water depth and underwater feature reflectivity; (B) measuring a water body absorption coefficient, a water body scattering coefficient and the reflectivity of typical features in a researched area; (C) correcting an original satellite image and eliminating influence of specular reflection light of a water surface; (D) calculating the water depth and underwater feature type of a certain pixel according to the physical analysis model and the water body absorption coefficient, the water body scattering coefficient and the reflectivity of a typical feature measured in the step (B); and (E) repeating the step (D) so as to obtain the water depths and underwater feature types of all the pixels. The method can realize simultaneous remote sensing retrieval of the water depth and underwater feature types of a clean shallow water area with the water depth within 40 m, has high precision and can carry out remote sensing on the underwater terrain, features and ecological environment of a shallow sea and an island.