The invention relates to a prefabricated part, in particular to a prefabricated panel installation device. The invention aims to solve the technical problem so as to provide the prefabricated panel installation device which comprises a diagonal bracing and locking mechanism, a first bottom lifting ring, a second bottom lifting ring, a stepping motor, a control display, an installation posture adjusting mechanism and a reinforcing steel bar straightening mechanism. The first lifting ring is arranged on the left part of the bottom end of the diagonal bracing and locking mechanism. According to the prefabricated panel installation device provided by the invention, the diagonal bracing and locking mechanism and a floor are tightly connected, and then the installation posture adjusting mechanism carries out garbage collection on a wallboard placement area, so that objects such as stone blocks are prevented from influencing a level condition of a wallboard; and then reinforcing steel bars inserted into the wallboard are straightened through the reinforcing steel bar straightening mechanism, so that the wallboard can be directly butt-jointed with the reinforcing steel bars when being installed. According to the prefabricated panel installation device provided by the invention, the effects on reducing the aerial edge work of working personnel, preventing the occurrence of falling accidents and falling objects, installing and moving conveniently, and providing an enough operation space for the working personnel are achieved.