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Drought projection is of critical significance for designing long-term drought adaptation strategies to cope with changing climate. This study presents an application of multi-class models for characterizing future droughts in the Yellow River basin (YRB). Using meteorological observations and simulations of three CMIP5 climatic models as input into VIC hydrologic model, the standardized Palmer drought index-based joint drought index (SPDI-JDI) is calculated to investigate spatiotemporal patterns and possible changes of future drought in the YRB, through an approach of bivariate modeling and analysis. It is concluded that moderate drought will be alleviated with decreased duration and severity, but extreme drought risk is likely to increase for future climate scenarios (2021–2050) relative to baseline period (1961–2000). From the perspective of bivariate analyses, the concurrence probability of drought events with extreme duration and severity might rise in the future, while increasing variability and heterogeneity of duration, severity and bivariate joint/concurrent return period would also increase the stochastic occurrence of extreme drought over time and space. These findings can provide insights into projection of climate change impacts on drought trends for the next 30 years, and help to preparations for strict control of socio-economic water consumption as well as eco-environmental protection and restoration in the YRB. [ABSTRACT FROM AUTHOR]