Abstract: In structure of a panel rockfill dam, panel is main water retaining structure of dam body．Once it cracks and deforms, it will have a significant impact on entire dam body．Setting of panel vertical joints plays an important role in stress and deformation of panels, and analyzing influence of panel vertical joints on panel stress and deformation is of great significance．Taking a panel rockfill dam in Yunnan Province as a case study, a contact surface was set between panel and cushion layer, and panel was divided into joints．Stress and deformation of panel were calculated and analyzed using finite element software．Results showed that after setting vertical joints in panel, panel deflection was slightly larger and panel stress was reduced, which verified that panel joints could adapt to panel deformation and effectively avoid overall panel damage．