Long-term drought variation provides a scientific foundation for water resource planning and drought mitigation. However, the spatiotemporal variation characteristics of drought in northeast China (NEC) are unclear. We conducted a comprehensive assessment of drought status and trends based on the Standardized Precipitation Evapotranspiration Index (SPEI) in NEC from 1990 until 2018. The findings show that: (1) the drying trend peaked in 2001, and then exhibited a mitigation tendency before drying again after 2013. The implementation of ecological restoration projects is primarily responsible for drought mitigation. (2) The areas with wetting and drying trends in the future would cover 86% and 17% of NEC, respectively. (3) There is a time lag between improved vegetation and the trend shift from dry to wet. (4) Spring and winter revealed wet trends within 71% and 84% of NEC, respectively, showing high sensitivity and resilience to drought, while 92–93% of NEC displayed dry tendencies during the summer and autumn seasons. The drought-affected area was the highest in summer and lowest in autumn. (5) The interannual drought severity was highest in May and June. (6) The highest drought impacts and trends occur within shrub and grass and sparsely vegetated land, as well as middle-temperate semiarid regions (M-semiarid). (7) The warmer the temperature zone, the more sensitive it is towards drought under the same hydrological conditions, showing a high drought-affected area. The drier the land, the higher the drought-affected area within the same temperature zone, with pronounced drought trends during the spring and summer seasons. Our findings highlight the need for the government to more explicitly develop drought mitigation strategies in accordance with NEC’s spatiotemporal drought variations and specifically the need to concentrate on droughts in M-semiarid regions occurring in summer, particularly in May and June.