Climatic variability and unpredictable rainfall patterns have led to the frequency of drought worldwide. Rice is the primary cereal for much of the global population, yet dehydration stress remains a critical factor limiting its productivity and quality. In response to drought stress, rice plants undergo several adaptive modifications, including stomatal closure, cellular adaptation, and alterations in root development, induced by stress-responsive genes. These genes are controlled by different transcription factors like AP2/ERF, DREB, bZIP, MYB, WRKY, WOX, etc., mediating the upregulation or downregulation of their respective genes, enabling the plants to withstand drought and highlighting them as promising genomic candidates for crop improvement programs. These transcription factors (TFs) act as pivotal molecular switches orchestrating plant developmental processes under various stress environments. This book chapter seeks to elucidate the role of TFs in regulating rice responses to drought stress and to explore potential strategies for enhancing drought tolerance in rice cultivation.