The work aims to develop a functional polyvinyl alcohol (PVA) film with antioxidant activity and UV shielding properties by extracting pectin from mandarin peel and explore the properties of the PVA/mandarin peel pectin/ferulic acid composite film. The pectin was extracted from the mandarin peels with citric acid, and the PVA/mandarin peel pectin/ferulic acid composite film was prepared by solution casting method with ferulic acid as a crosslinking agent. The structure, morphology, thermal properties, water resistance, optical properties, mechanical properties, and antioxidant activity of the composite film were characterized to investigate the effect of different ferulic acid contents. Ester bonds were formed between the carboxyl groups of pectin and the hydroxyl groups of PVA, and ester bonds and hydrogen bonds were formed between ferulic acid and the polymer. The film exhibited good thermal stability and UV shielding ability. The water resistance of the film was significantly improved with the addition of ferulic acid, and the tensile strength and antioxidant activity were significantly increased. The film with 5% mass fraction of ferulic acid showed a 38.89% reduction in water solubility and the best water resistance. In conclusion, the addition of ferulic acid improves the water resistance of the PVA composite film. The film shows good UV shielding ability and antioxidant activity, making it a highly potential sustainable packaging material.