This study investigated drought risk, drought vulnerability, and drought hazard in Northeast Iran (North Khorasan, Razavi Khorasan, and South Khorasan provinces) during 2009-2018. Exposure, sensitivity and adaptive capacity together determine the agricultural drought vulnerability. Three parameters of soil water holding capacity, level of mechanization and the amount of water consumption of agricultural wells were considered effective adaptive capacity factors to reduce the negative effects of drought on irrigated wheat production by having an auxiliary role. Results showed that among 51 counties in Khorasan provinces, 12 counties are exposed to the low drought Vulnerability, 11 counties to the moderate drought Vulnerability and 28 counties to the high drought Vulnerability. Counties with less drought vulnerability have a high score in terms of the adaptive capacity index. This high score is due to the high water holding capacity of the soil in these areas. Regions in the high and very high drought hazard classes are mostly in the center and south of the studied region and the amount of precipitation is low. In general, irrigated wheat is produced with medium and high risk in half of the counties of North Khorasan, Razavi Khorasan and South Khorasan provinces. Water scarcity, lack of reliable surface sources, improper distribution of rainfall, high temperature and poor vegetation cover in these areas have caused many problems in agriculture. Risk management needs to be revised in these regions due to the undeniable effects of climate change and the strategic nature of this product.