The invention discloses iron rod polishing equipment with a convenient discharge function. The iron rod polishing equipment comprises a box body, a grinding device arranged in the box body, a clampingdevice used for clamping an iron rod, a waste chip collecting device arranged at the outer bottom of the box body, and a discharging device used for discharging the iron rod; and the discharging device comprises a frame body arranged on one side of the box body, a third driving piece arranged on the frame body, a fixing rod with one end connected with the third driving piece, a dragging rod connected with the other end of the fixing rod, a material receiving assembly arranged on the frame body and a transmission assembly matched with the material receiving assembly, wherein a second electromagnet is arranged at one end of the dragging rod. According to the equipment, the iron rod can be comprehensively and efficiently polished, in the polishing process, scrap iron fallen from the iron rodcan be removed in time, polished iron rod can be discharged automatically, the polishing efficiency is improved, in addition, operation is simple in the whole process, discharging is rapid and stable, and the safety is high.