Multifunctional metal processing aids were prepared by using different alkanolamine salts of organic carboxylic acids as antirust agents to compound with propylene glycol block polyether ester defoaming agent,and their antifoaming,rust inhibition and lubricating properties were studied.The results show that the more polar groups in the antirust agent molecule,the greater the amount of antirust agent added,the better the rust inhibition performance.Adding antirust agent will weaken the defoaming effect of the metal processing aid,and the defoaming performance will weaken with the increase of antirust agent.The pH value of aqueous solution has a great influence on the rust inhibition property.Higher pH value has a positive effect on the antirust and anticorruption of the working solution,while the pH value has less influence on the defoaming property.The results of orthogonal test show that when the ternary carboxylic acid (6,6′,6″(1,3,5-triazine-2,4,6-triyltriimino)tris-Hexanoic acid) triethanolamine salt and castor oleic acid triethanolamine salt at the mass ratio of 1∶2 are used as compound antirust agent,the mass ratio of polyether ester and compound antirust agent is 2∶1,the metal processing aid prepared has good defoaming effect and good rust inhibition property.Through the investigation of lubrication performance,it is found that the metal processing aid prepared can significantly improve the carrying capacity of water,and shows good characteristics of extreme pressure,antiwear and friction reducing,and good lubrication stability.