Oilseed crops, including sunflower, soybean, and groundnut, play a vital role in agricultural production, serving as a key source of essential edible oils, biofuels, and proteins. However, these plants face various abiotic challenges, including drought stress. Due to climate change, water scarcity has been identified as a significant environmental constraint that reduces the yield and quality of oilseed crops. Phytohormones play a pivotal role in adapting plants to drought stress. These phytohormones regulate drought stress through cellular function at the molecular level via various cell signalings to maintain water balance, regulate stomatal movement, enhance root growth, and activate the antioxidant enzyme system. Abscisic acid (ABA), for instance, a major plant hormone, has a significant function in regulating drought tolerance by closing stomata and inducing stress-responsive genes, while cytokinin modulates root-to-shoot signaling to control water uptake. Ethylene (ET), gibberellins (GA), salicylic acid (SA), and jasmonic acid (JA) are other hormones that are crucial for helping plants adapt to drought stress. This chapter focuses on the physiobiochemical and molecular mechanisms involved in phytohormonal regulation under drought conditions in oilseed crops. These mechanisms are important for sustainable agriculture against increasing water stress and climate variability.