A multifunctional construction hoist for cargoes uses a guide rail support, a material conveying device, a reinforcing steel bar conveying device, a concrete conveying device, a bottom guardrail, a bottom frame, a buffer device, a driving and a guide bearing frame in the prior art in a combination mode. The guide bearing frame is driven by the driving device to slide, and an overload protection device, a safety device and a guide pulley are arranged on the guide bearing frame. The overload protection device is connected to the guide bearing frame through a shaft pin. A rigid fixing method of the material conveying device, the reinforcing steel bar conveying device and the concrete conveying device is changed, and one of the material conveying device, the reinforcing steel bar conveying device and the concrete conveying device can be selected to be quickly installed on the guide bearing frame according to requirements. The reinforcing steel bar conveying device can rotate in a 180-degree range, reinforcing steel bars are horizontally placed, and the arrangement length of the reinforcing steel bars can be adjusted. Compared with a mode that an existing hoist reinforcing steel bar frame is additionally arranged on the lateral side of a lifting cage, the lengths of reinforcing steel bars are not changed, and the reinforcing steel bars are loaded and unloaded in a vertical state, the multifunctional construction hoist for cargoes reduces load of the driving device, saves energy, reduces noise pollution, facilitates reinforcing steel bar transportation and greatly improves transportation efficiency and safety.