The invention belongs to the technical field of multifunctional protective materials and discloses a multifunctional protective material with high-pressure water-jet-cutting resistance and hydrofluoric-acid etching resistance and a preparation method and application thereof, especially for the machining fields of cover plates, touch screens and shells of mobile phones. The multifunctional protective material comprises the following components in parts by weight: 40-70 parts of phenolic epoxy acrylate resin, 10-30 parts of an active diluent, 2-6 parts of a photoinitiator, 10-30 parts of filler, 1-3 parts of an adhesion promoter and 0.2-1.0 part of a defoaming agent. The multifunctional protective material disclosed by the invention has the advantages that by silk-screen printing or spraying and UV curing, the obtained coating layer shows excellent adhesion on glass or metal substrates, so that the phenomena of hollowing, edge warping, dropping and the like in the processes of water-cutting scribing and CNC (Computer Numerical Control) carving process can be avoided; hydrofluoric acid with the concentration of 20% can be resisted for more than 30 minutes, so that the requirement for the protective performance can be met; due to use of environmental-friendly film dropping water, no residual film is left, and pieced dropping is achieved in film dropping; and the separation is easy, the automation degree of the process is high, and safe and environmental-friendly effects are achieved.