The storage of hydrogen in a compressed gaseous form offers the simplest solution in terms of infrastructure requirements and has become the most popular and most highly developed method. Hydrogen storage vessels are the key equipment of hydrogen refueling station. Seamless pressure vessels made from high strength steel, which are now used in hydrogen refueling stations, are more susceptible to hydrogen embrittlement, difficult in on-line safety monitoring and limited in volume. In order to solve the aforementioned problems, the authors have developed a multifunctional layered hydrogen storage vessel with volume 5m3 and design pressure 42MPa for the first demonstration hydrogen refueling station in the People’s Republic of China. This vessel is flexible in design, convenient in fabrication, safe in use, and easy in online safety monitoring. Its structure and functions are presented after giving a brief introduction of hydrogen refueling station, and analyzing risk of high-pressure hydrogen storage vessel.