This paper puts forward a terahertz multifunctional device based on reversible phase transition property of VO2, which can realize active switching from multiple narrowband perfect absorption to plasma-induced transparency (PIT). By means of impedance matching theory and electric field distributions, we analyze the mechanism behind three absorption formants, and the absorption spectrum is consistent with data obtained from coupled mode theory. Three perfect absorption formants at the frequencies of 4.37 THz, 5.27 THz and 6.1 THz are extremely sensitive to the changes in external environment, which possesses a higher sensitivity up to 1.29 THz/RIU and FOM up to 9.45, indicating prominent sensing performance. By regulating the Fermi energy in a unified manner, three absorption formants can be observed within a specific frequency range. When the Fermi energy of three graphene patterns is individually manipulated, trimodal narrowband perfect absorption will transform into one bimodal and two unimodal ones. While the device is under PIT operation mode, two transmission windows are formed at 5.1 THz and 5.92 THz. It can be concluded that dual PIT arises from the mutual coupling between two bright modes and a dark mode formed by patterned graphene, when combined with the transmission spectra and the corresponding electric field distributions. Similarly, the modulation of graphene Fermi energy can realize dynamic tuning of the transmission performance, and single PIT can be achieved when graphene patterns are regulated separately. In summary, the proposed device can meet various functional requirements for multiple perfect absorption and PIT under different conditions and promote developments of terahertz technology in fields of environmental detection, electromagnetic modulation, multi-function devices and other application.