A drag adjustment device for a dual-bearing reel that adjusts the drag force of a lever drag mechanism includes a drag adjustment lever, an intermediate positioning mechanism and a drag adjustment sounding mechanism. The drag adjustment lever is pivotably attached to the reel unit about a spool shaft between a free position corresponding to a drag free state and a maximum position corresponding to a maximum drag state of the lever drag mechanism. The intermediate positioning mechanism includes a positioning block that is attached to the reel unit at the intermediate position between the free position and the maximum position so as to be able to advance or retreat. The positioning block contacts the drag adjustment lever to position the drag adjustment lever at the intermediate position. The drag adjustment sounding mechanism sounds in response to the pivoting of the drag adjustment lever.