The invention relates to the technical field of building construction, and discloses a prefabricated building exterior wall panel drainage structure. A drainage tube comprises a telescopic baffle plate and a rigid water guiding tube, the telescopic baffle plate and the water guiding tube are arranged obliquely downwardly, the telescopic baffle plate is communicated with the water guiding tube by aflexible water tube, a pedestal is arranged at the bottom of a cavity, the pedestal is hinged to the lower end surface of the telescopic baffle plate, the bottom of the cavity is fixedly connected with an expansion airbag, the telescopic baffle plate includes a first segment and a second segment, the second segment sleeves at the inner side of the first segment, a triggering switch and a controller are arranged below one end, away from the water guiding tube, of the second segment, and a gap exists between the end part of the second segment and an interior wall; and the end part, close to thewater guiding tube, of the second segment is fixedly connected with a first connecting rod, a cylinder and an air pump are arranged below the water guiding tube, a piston rod is hinged to the first connecting rod, and the expansion airbag is communicated with one side, away from the air pump, of the cylinder through a second air tube. The structure completely drains water at the bottom of the cavity, avoids contact with the interior wall when meeting water, and avoids cracking of an exterior wall panel.