A novel type of bionic underwater propeller was proposed. By the means of the coordination control of the multifins, a propulsion mode was developed reasonably combining the undulation propulsion and jet propulsion. The multifins undulation propulsion and jet propulsion kinematics model was established. Simulation analysis by using computational fluid dynamics (CFD) method for multifins undulation propulsion mode and jet propulsion mode were emphasized. In the specific movement parameters, the results show that the multifins undulation propulsion mode can provide continuous and uniform propulsion with characteristic of better swimming stability，and the jet propulsion mode can generate a big push force instantaneous with the characteristic of better acceleration performance. It provides the foundation for further study on the multimode propulsion theory.