Drought monitoring is crucial for the early warning of drought hazards. In this study, an attempt to develop an Integrated Remote Sensing Drought Monitoring Index (IRSDI) was made, based on multi-source remote sensing data, with the aim of investigating drought conditions across the Huai River basin in both space and time. The IRSDI relied on:meteorological data recorded from 2003 to 2013 at 40 stations, soil moisture data recorded at 16 stations, Moderate Resolution Imaging Spectroradiometer (MODIS) data obtained by linear trend detection, and on the Standardized Precipitation Evapotranspiration Index (SPEI). The results of this study indicate that:(1) the proposed IRSDI is able to describe and monitor drought conditions well in both space and time; (2) droughts and high drought frequency occur in the periods April-May and July-September. In particular, September is the month during which the largest area is dominated by droughts. In particular, droughts affect Henan province, which accounts for 38% of the total drainage area of the Huai River basin, followed by Anhui province, which accounts for 22% of the total drainage area of the Huai River basin; (3) droughts tend to decrease during February, March and May, whereas they increase during January, April and June. Wheat grouting and ripening occur in the period from April to June. Thus, droughts in these months can seriously affect wheat production, and a more careful allocation of water resources and irrigation management should be performed during this period. Nevertheless, spring droughts and autumn-winter droughts should receive proper attention as well, in order to manage and reduce drought-induced losses.