This study focuses on the application of multimedia technology in foreign language teaching and learning in China's colleges. It shows that multi-media technology has posed challenges in such aspects as teachers, students, teaching and learning environment, and teaching evaluation and management. And it points out that the existing problems in it mainly include the lack of the integration of multimedia technology into the classroom teaching, the gap between the potentials of multimedia technology and teachers and students' understanding and proficiency, the insufficiency of students' awareness and ability of autonomous learning, and the outdated system of teaching evaluation and management. At last, it explains its implications, namely, strengthening teachers' education and development, provoking students' learning potentials and initiatives, perfecting the integration of multimedia teaching and traditional classroom teaching, and working out a practical and effective system of teaching evaluation and management.