Water-saving and drought-resistant rice (WDR) is a new type of rice varieties combining strong water-saving capacity and drought resistance with high yield potential and quality. The development of WDR not only breaks through the limitation of water resources to expand plantation range and area of rice and thus helps to ensure food security, but also significantly reduces the labor intensity and the negative impact on environment of rice production by reforming plantation methods. In this paper, the current situation, development prospect and main problems to be resolved in WDR production were discussed based on the previous studies and our investigations. Moreover, the future research work needed to be strengthened was proposed. The main purpose of this paper is to provide a guideline for the future study and development of WDR.