Based on the rainfall station observations and the products of Multi-source Merged Precipitation Analysis System of China Meteorological Administration (CMPAS), eight kinds of satellite-based precipitation products (FY-4A, CMOPRH-RT, IMERG-Early, IMERG-Late, GSMaP-Now, GSMaP-Gauge, PERSIANN-Now, PERSIANN-CCS) are comprehensively evaluated during the record-breaking extremely heavy precipitation process in East Gansu on July 15, 2022 by using quantitative analysis, classification and structural similarity methods. The results show that eight kinds of satellite-based precipitation products basically reflect the spatial distribution characteristics of precipitation with more in the central and eastern regions and less in the northwest. Except for the GSMaP-Now product, the other seven satellite-based precipitation products all underestimate the precipitation at the center of the rainstorm. The eight kinds of satellite-based precipitation products have a good ability to describe the peak value of heavy precipitation, and both peak stages of the heavy precipitation process are reflected, but all of them seriously underestimate the magnitude of heavy rainfall and above. For precipitation of different magnitudes, the GSMaP-Gauge is the best for estimating precipitation of magnitude below torrential rain, while the CMOPRH-RT is the best for heavy rain and above, and all products cannot correctly hit the precipitation of torrential heavy rainfall. In terms of the structural similarity index, the CMOPRH-RT product can best represent the structural distribution of the precipitation process from three aspects of total precipitation, precipitation magnitude, and precipitation morphological distribution. In summary, for this precipitation event, the CMOPRH-RT precipitation product had the best performance in all aspects.