In order to study the seismic performance of steel frame structures with PC external wall panel friction energy dissipation system, this paper establishes a parallel model of BoucWen model and Hysteretic material based on OpenSEES finite element software. Through parameter modification cycle trial calculation, the nonlinear boundary condition data of PC external wall panel in the test device are obtained. On this basis, four groups of friction energy dissipation systems of PC external wall panel are established by using OpenSEES finite element software and applied to a single-story single-span steel frame structure, and its seismic performance is analyzed. The results show that the bolt pre-tightening force has great influence on the mechanical properties of the energy dissipation system. When the bolt pre-tightening force of the friction energy dissipation joint is less than 32.9 kN, the initial stiffness and bearing capacity of the structure will be continuously improved with the increase of pre-tightening force. However, when the bolt pre-tightening force is greater than 32.9 kN, the hysteretic curve of the structure shrinks obviously, and the energy dissipation capacity of the structure decreases.