Disclosed is a balloon catheter (1000) with a drug coating. The balloon catheter comprises a pushing catheter (310), at least one expandable first balloon (100) located at a distal end of the pushing catheter (310), and a pre-expansion mechanism. The first balloon (100) is fixedly arranged on the pushing catheter (310). The pre-expansion mechanism (200) comprises an expansion sleeve (220) and a connector (240). The expansion sleeve (220) is used for housing the first balloon (100) before the first balloon (100) is not expanded and when same is pre-expanded. The connector (240) is connected to the expansion sleeve (220) and axially moves with respect to the pushing catheter (310) after the first balloon (100) is pre-expanded, so that the first balloon (100) is exposed outside the expansion sleeve (220). The balloon catheter (1000) with a drug coating can effectively pre-expand a lesion location and can also effectively prevent the loss of a balloon with a drug coating during a delivery process, and is simple in terms of a surgical operation process.