A multifunctional floating apparatus, which is able to float on water, includes a floating device, a handrail, a driving device, a controlling device, and a battery set. The floating device has an exterior edge and an interior edge, wherein the exterior edge is longer than the interior edge, and the floating device has an inner side at the interior edge. The handrail is connected to the inner side of the floating device, wherein the handrail has at least a holding portion for a user to hold the handrail. The driving device is provided on the floating device to drive the floating device to sail on water. The controlling device is electrically connected to the driving device to control the controlling device. The battery set is disposed to the floating device to supply the driving device with electric power.