The invention provides an anti-bacterial and anti-wrinkling finishing method for cotton fabric, comprising the following steps of: dissolving catalyst, and equimolar 2, 2, 6, 6-tetramethyl-4-pipradrol and butanetetracarboxylic acid in water, so that finishing bath foam can be formed; and soaking the cotton fabric in the finishing bath foam, treating the cotton fabric by the working procedures such as rolling and baking, soaping, washing by water, drying, halogenating and drying, wherein the catalyst is one of the sodium dihydrogen phosphate, disodium hydrogen phosphate, sodium polyphosphate and sodium hypophosphite, the halogenating treatment comprises the step of soaking the dried cotton fabric in active halogen-containing solution, and the drying temperature is 150-200DEG C. The cotton fabric which is finished by the method in an anti-bacterial and anti-wrinkling finishing way has the dual performances such as bacterial resistance and wrinkling resistance, is high in anti-bacterial efficiency, good in anti-wrinkling performance, and free from formaldehyde release.