The present invention concerns that of a new and improved drywall lift assembly that allows a single individual to support and hold a single drywall panel while he or she would be affixing this panel to a wall or ceiling of a residential or commercial building. The drywall lift assembly includes a flat panel base, a telescoping pole assembly on top of the flat panel base, a support assembly atop the telescoping pole assembly for mounting an item of drywall or flat panel sheeting, and an extension ladder attached to the telescoping pole assembly. The support assembly can move in relation to the telescoping pole assembly so that piece of drywall or flat panel can be placed on either a ceiling or a wall surface.