Fast-growing wood has been widely used in manufacturing decorative material for wood-based panels. However, the deterioration of the decorative quality of the decorative material is still a hard nut to crack. The single decorative function of this material also makes it challenging to meet the requirements of the current consumer market. In this study, a novel method for the preparation of decorative poplar veneer that integrated multiple functions was proposed. It was accomplished via reactive dyeing of poplar veneer followed by in-situ synthesis of ZnO-Ag nanoparticles (NPs) at room temperature. The critical functional parameters and preparation mechanism of the functional decorative material were systematically analyzed. Results demonstrated that ZnO and Ag NPs were synchronously formed through the in-situ redox of metal ions and subsequent self-assembly in an alkaline medium. The ZnO-Ag NPs were uniformly distributed on the surface of dyed wood. The color change of the prepared decorative material was reduced by at least 40 % due to the physical obstruction of the ZnO-Ag NPs layer. More importantly, the antibacterial, hydrophobic, and flame retardant properties of the prepared material were also synchronously improved. This study provided a new approach to improving the quality of wood-based decorative materials.