The occurrence of shade and drought stress either individually or simultaneously causes altered morphophysiological and molecular responses in crops. Nevertheless, responses of crop plants to combined shade and drought stress are unique as compared to those of individually occurring stress which urges need to study and identify distinctions, commonalities, and the interaction between responses of plants to these concurrent stress factors. In the present review, we outlined currently available knowledge on responses of plants to shade and drought stress on a shared as well as the unique basis and tried to find a common thread potentially underlying these responses. Then, we briefly described some plausible mitigation strategies to cope with these stresses along with future perspectives. A deeper insight into plant responses to co-occurring shade and drought stress will help us to generate crops with broad-spectrum stress tolerance and increased resilience to such stresses in high planting densities or intercropping systems, thus, ensuring food security.