Multifunctionality has become an important evaluating index for structural design because engineering applications in complicated environment call for multifunctional and ultralight structures. With this in mind, this paper proposes a novel ultralight multifunctional micro-perforated sandwich structure with N-H type hybrid cores, which demonstrates superior sound absorption across a wide frequency range, while also achieving good load-bearing capacity. An analytical model is established to calculate the sound absorption coefficient, which is then validated through numerical simulation and experimental measurements. Furthermore, the underlying physical mechanisms for the satisfactory sound absorption are explored. The influences of specific parameters on the broadband sound absorption performance of the proposed structure are quantitatively demonstrated through systematic parameter studies. Additionally, in order to demonstrate the preeminent multifunctional attributes of the proposed structure, a numerical simulation method is employed to evaluate its out-of-plane compression properties. Compared to other micro-perforated sandwiches, the proposed structure exhibits an improvement in load bearing capacity. A radar chart is also created to display the advantages of the proposed micro-perforated sandwich structure over others. Overall, the proposed ultralight sandwich structure with N-H type hybrid cores shows great significance for engineering applications that demand high comprehensive performances owing to its multifunctionality.