The invention provides a multifunctional rotation lifting tool which comprises a lifting tool bracket, a balance slewing mechanism, a first lifting chain lifting tool, a rotation mechanism and workpiece connecting device, wherein the rotation mechanism is inserted into an inner cavity of the lifting tool bracket and can rotate relative to the lifting tool bracket; the workpiece connecting device is mounted at the end part, penetrating out of a penetrable hole of the lifting tool bracket, of the rotation mechanism; one side, far away from the workpiece connecting device, of the lifting tool bracket is connected with one lifting chain of the first lifting chain lifting tool through the balance slewing mechanism; the balance slewing mechanism and the lifting tool bracket can rotate oppositely; and one side, close to the workpiece connecting device, of the lifting tool bracket is movably connected with the other lifting chain of the first lifting chain lifting tool. With the adoption of the balance slewing mechanism and the rotation mechanism, the lifting tool can be lift vertically and rotate horizontally to be suitable for workpiece assembling stations of different angles, and the lifting tool can be transformed according to different requirements.