Aiming at the poor recognition performance and low security of the single-modal biometric template protection method, a cancelable template protection method based on fingerprint and iris feature fusion is proposed. This method performs PCA and concatenation processing on the fingerprint and iris features, and then obtains the fused feature vector through random scrambling, wavelet transform and DFT operations. Finally, a cancelable multi-modal biometric template is generated through partial Hadamard transform. The feature template contains two biometric feature vectors of fingerprints and finger veins, which has better distinguishability and security. Theoretical and experimental simulation results show that this method meets irreversibility and revocation, and has better authentication performance and security compared with existing methods.