The invention relates to the technical field of building decoration engineering equipment, in particular to a machining device and a machining process for building exterior wall decoration dry-hangingstone. The machining device comprises a conveying device for moving the stone, adjusting devices for performing corresponding adjusting and fixing according to the size of the stone, and a drilling device for drilling the stone, wherein the conveying device comprises a driving motor, a main transmission belt, an auxiliary transmission belt, supporting legs, a supporting frame, transmission rollers and a conveying belt; each adjusting device comprises a servo motor, threaded rods, a gear cylinder, abutting plates, a square block set, a gear disc and an intervention groove; and the drilling device comprises electric telescopic air cylinders, rectangular plates, stepping motors, ball screws, rotating motors, multi-functional drill bits and rectangular blocks. The machining device has the effects of being good in machining precision, small in operation risk and capable of saving labor and punching holes in a specific shape.