In a method for SR-IOV Virtual Functions Sharing on Multi-Hosts, implemented in a management system, one or more fake devices are simulated in one or more hosts with each fake device corresponding to one of a plurality of SR-IOV virtual functions. Each of one or more configuration spaces is redirected from each SR-IOV virtual function to each fake device, respectively. Each of configuration space requests is redirected from a corresponding fake device to a corresponding SR-IOV virtual function when the configuration space request is received. And each of memory access operations is redirected from the corresponding SR-IOV virtual function to a mapped memory on a corresponding host with the corresponding fake device, and each of interrupts generated by one or more SR-IOV virtual machines is redirected to the corresponding fake device.