Drought (D) and chromium (Cr) stress co-occur in agricultural fields due to the accumulation of excessive Cr in soils from industrial pollution and increasing frequency of water scarcity. Carrageenan (Car), a compound extracted from red seaweed, is an emerging biostimulant with multifaceted roles in plants. This study investigated the role of exogenous Car in mediating tolerance to D-, Cr-, and DCr-stress in wheat seedlings, aiming to elucidate the potential of Car in mitigating toxicity and promoting plant resilience. Wheat seedlings exposed to DCr-stress exhibited reduced growth and biomass production, along with elevated levels of reactive oxygen, carbonyl, and nitrogen species. Moreover, D-stress exacerbated Cr-toxicity, as demonstrated by principal component analysis (PCA), which showed a strong positive correlation between DCr-stress and stress marker parameters. This suggests that DCr-stress resulted in higher Cr uptake and increased oxidative damage compared to individual D- or Cr-stress, making DCr-stress more detrimental than either stress applied alone. However, Car priming ameliorated the toxic effects of DCr-stress and promoted the growth performance of DCr-stressed wheat seedlings. In PCA, the positive correlation of D + Car, Cr + Car, and DCr + Car treatments with growth and plant defense-related parameters suggests that Car-mediated improvement in stress tolerance can be attributed to reduced accumulation of toxic Cr, increased levels of total free amino acids and soluble sugars, enhanced antioxidant enzyme activity, elevated non-enzymatic antioxidant levels, higher phenolic and flavonoid content, and improved metal chelation and detoxification. Our results indicated Car is a potential and cost-effective biostimulant for managing D-, Cr-, or DCr-stress in wheat.