A multi-mode squat rack includes a frame, a support unit and a handle unit. The frame includes two struts pivotally connected to each other, two stepping boards connected to one of the struts, and a mount pivotally connected to the first strut. The support unit includes a seat post pivotally connected to the first strut, a seat supported on the seat post, a pair of ears supported on a side of the seat post near the first strut, at least one fin supported on an opposite side of the seat post, and an elastic unit arranged between the mount and the fin. The handle unit includes a stem pivotally connected to the first strut, a connection rod formed with an end pivotally connected to the stem and another end pivotally connected to the first strut or the pair of ears, and a handle connected to the stem.
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