The present invention discloses a multifunctional video encoding circuit system capable of performing six types of operations: addition, subtraction, multiplication, multiply-accumulation, interpolation, and absolute difference summation. A partial product generation part, a partial product reduction part and an accumulation part of the circuit system are equipped with a virtual power suppression unit each for reducing the power consumption of the partial product generation part, the partial product reduction part and the accumulation part, so as to reduce the power consumption of the multifunctional video encoding circuit system.