Wheat (Triticum aestivum L.) is one of the most important crops in arid and semi-arid areas of the world, and its sustainable and efficient production is essential for ensuring food security in China and globally. However, with the global climate change, wheat production is increasingly endangered by abiotic stress, and drought stress has become the main abiotic stress factor restricting wheat production efficiently. Therefore, investigating drought resistance genes and elucidating the mechanisms underlying drought resistance regulation is crucial for the genetic enhancement of drought resistance and the development of new drought-resistant wheat varieties. This paper reviews the majority of research conducted on wheat drought resistance over the past five years, focusing on aspects, such as transcriptional regulation, protein post-translational modifications, and other regulatory mechanisms related to drought resistance in wheat. Additionally, this paper discusses future directions for the genetic improvement of drought resistance and the breeding of new drought-resistant wheat varieties.