Significant progress has been made in developing drought-tolerant soybean varieties and associated technologies, resulting in notable advancements for soybean production under water-limited conditions. Between 2022 and 2024, nine drought-tolerant varieties were released, offering farmers greater resilience and yield stability. Key genetic markers and genes have been identified, including three canopy wilting QTLs that explain a substantial portion of phenotypic variation in drought stress tolerance, two slow wilting genes, and a patented root gene that improves drought tolerance through gene editing. The integration of high-throughput platforms, such as drone-based canopy wilting scoring and root trait imaging, has streamlined the selection process for drought tolerance, while machine learning models for canopy wilting have further enhanced precision. Evaluations of new drought-tolerant lines in field trials revealed superior performance over commercial checks under both irrigated and dry conditions. In particular, high oleic, low linolenic (HOLL) lines, derived from slow wilting parents, have performed at or above commercial standards. These lines not only offer drought tolerance but also improved oil content, an important trait for marketability. Collaborative breeding efforts are continuing to advance elite lines and incorporate valuable traits such as herbicide tolerance, with new crosses already being developed for future releases. Additionally, evaluations of drought response mechanisms and genomic selection are nearing completion, which will provide further insights into drought-tolerant traits and enhance breeding strategies. Finally, promising developments in nutrient management, including a phosphorus-solubilizing inoculant combined with nitrogen-fixing capabilities, offer an additional layer of adaptability for soybean production in drought-prone regions. Collectively, these advancements not only improve drought tolerance but also increase productivity, sustainability, and market potential for soybean farmers facing the challenges of climate variability.