The invention relates to the oil pipe float valve apparatus technical field, and refers to a multifunctional oil pipe float collar comprising a body, a valve seat, a valve, a torsion spring, a seal ring, a jack screw, and a salvage basket; the inner wall of the body is provided with an upper ring platform and a lower ring platform from top to bottom, and the inner diameter of the upper and lower ring platforms gradually decreases; the top end face of the lower ring platform is provided with the valve seat matched with the inner diameter of the upper ring platform; the valve seat is an annular sleeve; the inner diameter of the valve seat is smaller than that of the lower ring platform; the inner wall of the lower portion of the valve seat is a cone annular surface with small top and big bottom; the valve is a cone platform with small top and big bottom. The multifunctional oil pipe float collar is reasonable and compact in structure, convenient in usage, can effectively prevent well inner fluid from backflowing through the oil pipe, can prevent blowout accidents, thus improving safety of imbalanced well-completion practice; the multifunctional oil pipe float collar can prevent oil pipe blowout under imbalance, can realize gas lift commissioning, and can realize one trip string fracture reconstruction, thus saving lower pipe lifting time, and improving exploitation efficiency.