A wasted water draining valve for a drinking water fountain includes a valve body having a bottom having a first side formed with a wasted water inlet channel and a second side formed with a wasted water outlet channel connected to the inlet channel. Thus, the wasted water inlet channel of the valve body is inclined relative to the wasted water outlet channel, so that the wasted water inlet channel of the valve body is directly connected to the wasted water outlet channel without having to provide a U-shaped tube to connect the wasted water inlet channel and the wasted water outlet channel of the valve body, thereby decreasing costs of fabrication.