The invention discloses a multifunctional padding machine and a fabric padding method. The multifunctional padding machine comprises a support, immersion liquid troughs, padders, tension brackets, an infrared heating device, drying chambers, stacking mesh belts and a doffing frame. A whole fabric feeding device is supported through the support, the infrared heating device is arranged behind the support and used for predrying fabric, the immersion liquid troughs and the padders are arranged behind the infrared heating device, the tension brackets for adjusting fabric-face tension of the fabric in the operating process are arranged behind the padders, the drying chambers are formed behind the tension brackets, cooling rollers for cooling the fabric face are arranged on inlets and outlets of the drying chambers, the stacking mesh belts for ventilating and oxidizing the fabric are arranged behind the drying chambers, and the doffing frame is arranged behind the stacking mesh belts. The multifunctional padding machine can have multiple purposes, different fabric-penetrating starting modes are adopted according to the different technology requirements, and product diversification and the product quality are guaranteed.