ObjectivesPost‐seizure functional decline is a concern in post‐stroke epilepsy (PSE). However, data on electroencephalogram (EEG) markers associated with functional decline are scarce. Thus, we investigated whether periodic discharges (PDs) and their specific characteristics are associated with functional decline in patients with PSE.MethodsIn this observational study, patients admitted with seizures of PSE and who had scalp EEGs were included. The association between the presence or absence of PDs and post‐seizure short‐term functional decline lasting 7 days after admission was investigated. In patients with PD, EEG markers were explored for risk stratification of short‐term functional decline, according to the American Clinical Neurophysiology Society's Standardized Critical Care EEG Terminology. The association between EEG markers and imaging findings and long‐term functional decline at discharge and 6 months after discharge, defined as an increase in the modified Rankin Scale score compared with the baseline, was evaluated.ResultsIn this study, 307 patients with PSE (median age, 75; range, 35–97 years; 64% males; hemorrhagic stroke, 47%) were enrolled. Compared with 247 patients without PDs, 60 patients with PDs were more likely to have short‐term functional decline (12 (20%) vs. 8 (3.2%), p < 0.001), with an adjusted odds ratio (OR) of 4.26 (95% confidence interval (CI), 1.44–12.6; p = 0.009). Patients with superimposed fast‐activity PDs (PDs+F) had significantly more localized (rather than widespread) lesions (87% vs. 58%, p = 0.003), prolonged hyperperfusion (100% vs. 62%, p = 0.023), and a significantly higher risk of short‐term functional decline than those with PDs without fast activity (adjusted OR, 22.0; 95% CI, 1.87–259.4; p = 0.014). Six months after discharge, PDs+F were significantly associated with long‐term functional decline (adjusted OR, 4.21; 95% CI, 1.27–13.88; p = 0.018).SignificanceIn PSE, PDs+F are associated with sustained neuronal excitation and hyperperfusion, which may be a predictor of post‐seizure short‐ and long‐term functional decline.