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[Display omitted] • The proposed MSDI can capture the occurrence of drought. • There was a tendency of aridity with a mutation point of 1983. • The drought severity was the heaviest in the DXJB, with an average MSDI of –0.75. • The most severe drought event occurred from September 1988 to October 1990. • ENSO had the largest influence on the drought variation in the XJB. The reasonable and appropriate drought indicator is a crucial instrument for drought investigation and assessment, which can objectively compare the severity, duration, and frequency of drought events, so as to achieve the purpose of accurately monitoring and evaluating drought. However, a univariate drought index is often difficult to precisely describe the complex drought situation, and it is urgent to establish a multivariate comprehensive drought index to identify and reveal the drought characteristics. Based on Copula models, combined with meteorological factors precipitation and hydrological factors runoff, this paper constructed a Multivariate Standardized Drought Index (MSDI), which can characterize meteorological drought and hydrological drought simultaneously and evaluate the spatial–temporal evolution characteristics of drought over the Xijiang River Basin (XJB) in South China. The results indicated that: (1) the proposed MSDI can capture the occurrence of drought as sensitively as the Standardized Precipitation Index (SPI), and can represent the termination of drought as effectively as the Standardized Runoff Index (SRI), which can comprehensively depict the drought situation in the XJB, China; (2) since the 1980 s, there was a tendency of aridity with a mutation point of 1983 in the downstream of Xijiang River (DXJB), and the worst comprehensive drought occurred in 1989; (3) among the tributaries, the comprehensive drought severity was the heaviest in the DXJB, with an average MSDI value of –0.75; (4) based on the run theory and Copula model, the most serious drought event occurred from September 1988 to October 1990, with a drought severity of 33.36, a drought duration of 27 months, and a drought return period exceeding 50 years; and (5) the drought evolution was significantly influenced by abnormal atmospheric circulation factors, while ENSO had the largest influence on the drought variation in the XJB, followed by sunspot. [ABSTRACT FROM AUTHOR]