A rapid engine oil draining valve is a device utilized to enable and disable the flow of engine oil from the drain port of a vehicle engine oil pan. A valve that is mechanically coupled to a lever is positioned within a valve housing and may be opened or closed by turning the lever. The lever may be turned within a lever slot in order to open or close the valve. A protective cap is removably engaged to a neck that is connected to the valve housing. The protective cap locks the lever in place within a retention nook that traverses into the lever slot in order to prevent accidental turning of the lever and subsequent draining of the engine oil. The protective cap may be partially or fully removed from the neck to free the lever from the retention nook and enable the lever to be turned.