The invention relates to a multifunctional hydraulic power station, which mainly consists of two pump groups, an electric cabinet, a hand-operated direction valve, a check valve, an overflow valve, an energy accumulator, a manual pressure-reduction pressure-regulation overflow valve, a normally-closed solenoid valve, a normally-opened solenoid valve, a stop valve, a high-pressure oil output end and an automatic control device. On the basis that the hydraulic power station has an original function, the defects and the deficiencies of an original hydraulic power station are overcome, and functions, such as free regulation of oil pressure, optimal torque control, energy saving and accumulation, multifunctional changeover, no-load time delay startup and automatic control, which are provided for a load, are increased. The multifunctional hydraulic power station is simple in operating, saves electric energy by more than 50%, can provide hydraulic power for various petroleum drilling tools, is also suitable for other industries to provide hydraulic power for hydraulic tools by taking high-pressure hydraulic oil as mediums, and can achieve the effects of energy saving, energy accumulation and controllable torque.