The present disclosure discloses multi-mode hydraulic braking systems and control methods thereof. The system includes a two-position three-way digital switch valve, an electromagnetic three-position three-way proportional reversing valve, a controller, a pressure detection system, a speed detection system, and a displacement detection system. The controller intelligently switches a digital braking mode, a composite braking mode, and an anti-lock braking mode after collecting a brake signal through the pressure detection system and speed detection system in real time. The present disclosure integrates an electro-hydraulic proportional control technology with the electromagnetic three-position three-way reversing valve as a control element and a digital hydraulic technology with a digital switch valve as a control element and takes into account an anti-lock function on the basis of digital and composite braking modes to ensure safety of emergency braking and improves versatility of the braking system by the controller intelligently switching the operating modes.