Intrinsic two-dimensional (2D) multiferroics that couple ferromagnetism and ferroelectricity are rare. Here, we present an approach to achieve 2D multiferroics using powerful intercalation technology. In this approach, metal atoms such as Cu or Ag atoms are intercalated in bilayer CrI₃ to form Cu(CrI₃)₄ or Ag(CrI₃)₄. The intercalant leads to the inversion symmetry breaking and produces a large out-of-plane electric polarization with a low transition barrier and a small reversal electric field, exhibiting excellent 2D ferroelectric properties. In addition, due to charge transfer between the intercalated atoms and bilayer CrI₃, the interlayer coupling transits from antiferromagnetic to ferromagnetic, and the intralayer ferromagnetic coupling is also enhanced. Furthermore, the built-in electric polarization causes a distinct surface magnetization difference, generating a strong magnetoelectric coupling with a coefficient larger than that of Fe, Co, and Ni thin films. Our work paves a practical path for 2D multiferroics, which may have crucial applications in spintronics.