The invention discloses a down-hole tool used for water drainage and gas production of a natural gas well in the field of oil drilling and production. According to the technical scheme of the down-hole water drainage and gas production tool, the tool is composed of a transition connector, a packer module, an overflow valve module, a reversing valve module, a pilot valve module, an actuating module, a second pump module, a check valve short section, a first pump module, a check valve short section, a bottom end and a main outer cylinder. According to the tool, extra energy supplying is not needed, and only natural gas generated by the natural gas well self serves as a power resource. Gas enters from a gas inlet in the tool, is pressurized by multi-stage air cylinders and drives a reciprocation pump mechanism to work, and therefore accumulated liquid in the well is conveyed to the ground through an oil-line pump. The natural gas enters an oil sleeve annular space through a gas outlet in the tool and flows to a ground production pipeline. The down-hole water drainage and gas production tool can be applied to water drainage and gas production operation of vertical wells, deviated wells and horizontal wells, has the advantages of being simple in construction operation, low in operation cost and free of pollution for a stratum and is suitable for water drainage and gas production operation of low-pressure and low-gas-production wells.