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The consecutive occurrence of meteorological dry and wet extremes has been receiving increasing attention due to potentially larger social and environmental impacts than single extremes. However, the changing characteristics of transitions between dry and wet periods remain poorly understood. Here we investigate the dynamic evolution of dry‐to‐wet transitions in response to climate warming, using the Standardized Precipitation Evapotranspiration Index as well as observations and general circulation models for the periods of 1954–2014 and 2040–2100. We find that approximately three‐fifths of global land area are projected to experience an accelerated dry‐to‐wet transition. Southern Asia has been experiencing the most severe dry‐to‐wet transitions and is projected to suffer more frequent, more intense, and accelerated dry‐to‐wet transitions. The increasing potential evapotranspiration (PET) variability plays an important role in accelerating the dry‐to‐wet transition in Southern Asia, while precipitation and PET variabilities contribute to the intensification of dry‐to‐wet transitions in Southern North America. Plain Language Summary: The consecutive occurrence of droughts and floods has widespread impacts on agriculture, the ecosystem, and the environment. Here we examine the changes in frequency, intensity, and elapsed time of transitions between dry and wet periods under a warming climate, based on observations and an ensemble of 10 Coupled Model Intercomparison Project Phase 6 climate simulations. We find that approximately 59% of global land area are expected to experience a shorter transition time between dry and wet periods. Southern Asia suffers the most severe dry‐to‐wet transition. Furthermore, our findings reveal that enhanced potential evapotranspiration (PET) variability contributes to the accelerated transition between dry and wet periods over Southern Asia, and the acceleration of dry‐to‐wet transitions in Southern North America is associated with an increase in precipitation and PET variabilities as climate warms. Key Points: Approximately three‐fifths (59%) of global land area are projected to experience accelerated transition between dry and wet periodsSouthern Asia suffers the most from severe transition between dry and wet periodsEnhanced precipitation and potential evapotranspiration variabilities contribute to the accelerated dry‐to‐wet transitions [ABSTRACT FROM AUTHOR]