The invention discloses a multi-port multi-mode IoT communication terminal supporting multi-meter combined reading and a reading method thereof. A wireless communication unit and a data acquisition unit of the communication terminal are respectively connected to a data processing unit; a configuration interface is respectively connected to the wireless communication unit, the data processing unitand the data acquisition unit through a configuration unit; one end of an RS485 interface and/or an RS232 interface is connected to the data acquisition unit, and the other end is used for connectinga plurality of meters; the wireless communication unit includes a LoRa wireless communication subunit and/or a NB-IoT wireless communication subunit and/or a WIFI wireless communication subunit and/ora GPRS communication subunit. The terminal has the advantage that different types and different protocols of sensor or meter reading data are connected to a wireless network in different modes quickly by configuring the multi-port multi-mode IoT communication terminal, thereby reducing the research and development cost, improving the transformation efficiency of the old equipment and reducing theconstruction quantity.