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Coherence is intrinsically related to projective measurement. When the fixed projective measurement involves higher-rank projectors, the coherence resource is referred to as block coherence, which comes from the superposition of orthogonal subspaces. Here, we establish a set of quantitative relations for the interconversion between block coherence and multipartite entanglement under the framework of the block-incoherent operations. It is found that the converted multipartite entanglement is upper bounded by the initial block coherence of single-party system. Moreover, the generated multipartite entanglement can be transferred to its subsystems and restored to block coherence of the initial single-party system by means of local block-incoherent operations and classical communication. In addition, when only the coarse-grained quantum operations are accessible for the ancillary subsystems, we further demonstrate that a lossless resource interconversion is still realizable, and give a concrete example in three four-level systems. Our results provide a versatile approach to utilize different quantum resources in a cyclic fashion.