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In this study, a comprehensive evaluation of the reliability of seventeen satellite-, reanalysis-, and gauge-based precipitation products (i.e., IMERG-F, GSMaP-G, TMPA 3B42, CMORPH-CRT, PERSIANN-CDR, CHIRPS, IMERG-E, IMERG-L, GSMaP-RT, TMPA-RT, PERSIANN-RT, ERA5, ERA-Interim, MERRA2, GPCC, CPC, and CRU) was conducted for drought monitoring from June 2000 to December 2019 over mainland China. The girded China monthly Precipitation Analysis Product (CPAP) with a dense station network was used as the benchmark observed precipitation data. The Standardized Precipitation Index (SPI) was used as a drought monitoring tool. The comprehensive evaluation procedures were implemented by a monthly precipitation evaluation, various timescales SPI verification, and typical drought event analysis. The results indicated that the performance of per precipitation product is in accordance with the generally higher monthly accuracy in eastern China than that in western China. The post-process satellite precipitation products, particularly bias-adjusted GPM-based products, i.e., the IMERG-F and GSMaP-G, are significantly better at detecting the monthly precipitation than the reanalysis (ERA5 and ERA-Interim), and near real-time satellite precipitation datasets. The best performances are observed for MERRA2 from reanalysis-based precipitation datasets, and GPCC from gauge-based precipitation products, for both precipitation estimation and drought monitoring. Regarding drought monitoring, the performance ranking of most precipitation products is basically consistent with monthly precipitation estimation. The SPI behaviors based on the bias-adjusted GPM-based products have inferior performance than those in MERRA2 and GPCC at the continental scale. Nevertheless, some discrepancies exist in the reliability level of drought detection in sub-regions and multi-timescales. Integrally, the IMERG-F is evaluated to be the most ideal precipitation data among the seventeen precipitation products for drought monitoring in eastern and southwest China. However, in comparison to the GPCC performance, the accuracy of satellite precipitation products should be further improved in the Xinjiang and Tibet Plateau regions. The outcomes of this study will provide valuable insights into the drought monitoring by using multi-sources open access precipitation products across mainland China. • 17 precipitation products reliability were analyzed over mainland China. • Reanalysis- and gauge-based datasets were used to reveal the performance level of satellite-estimated drought. • IMERG-F is the most suitable dataset for drought research in eastern and southwest China [ABSTRACT FROM AUTHOR]