Suspended waterproof curtains combined with pumping wells are the primary method for controlling groundwater levels in foundation pits within soft soil areas. However, there is still a lack of a systematic approach to predict the groundwater drawdown within the foundation pit caused by the influence of these suspended curtains. In order to investigate the variation of groundwater level within the excavation during dewatering processes, the finite difference method is employed to analyze the seepage characteristics of foundation pits with suspended waterproof curtains. Basing on the concept of equivalent well, this study examines the coupled effects of aquifer anisotropy (ki), aquifer thickness (Mi), well screen length (li), and the depth of waterproof curtain embedment on the seepage field distortion. A characteristic curve is established for standard conditions, which exposes the blocking effect of the curtain on the amount of groundwater drawdown in the pit. Additionally, correction coefficients are proposed for non-standard conditions, which, in turn, results in a prediction formula with a wider range of applicability. Comparative analysis between the calculated predictions and the field observation data from an actual foundation pit project in Zhuhai City validates the feasibility of the quantitative prediction method proposed in this research, which also provides a 21% safety margin.