Paprika (Capsicum annuum L.) is sensitive to not only waterlogging but also drought. Taking Haipao No. 1 as the test material in greenhouse, an experiment was conducted to study the effects of drought on physiological parameters and yield of paprika based on two factors \[continuous dry days (10-50 days) and irrigation (0-16 mm)\] with nine levels in a uniform design scheme. Through correlation and regression analyses, a grade index of spring drought disaster for paprika was constructed. The results showed that the rate of dead paprika seedlings was negatively correlated with the relative soil moisture at depth 20 cm (r=-0.73) and little correlated with irrigation. Continuous drought duration notably affected the rate of dead paprika seedlings, and thus was chosen as the drought index for paprika. Net photosynthetic rate, transpiration rate and stomatal conductance of paprika decreased and relative yield loss increased significantly with the increase of continuous drought duration. Considering the standard of meteorological drought and the regression model relating the rate of dead paprika seedlings with continuous dry days, the critical values of continuous dry days for mild, moderate and severe droughts were 27, 32 and 36 days, respectively. The drought disaster index for paprika fitted well with the actual drought disaster situation and could help provide strategies for monitoring and precaution against drought disaster for paprika.