In this study, the Palmer Drought Severity Index (PDSI) was used to analyze the average and extreme dry/wet states of Asia and North America from 1953 to 2003. The results indicate that the two continents underwent drying trends during this period. Compared with North America, Asia showed more severe drought trends. However, more significant and regular seasonal variation for drought was found in North America. The driest regions in Asia were located in the northern region of China, Mongolia, and eastern mid-Siberian plateau. Most regions in central North America were relatively wetter than other regions. The northern and southwestern regions of North America, as well as the Atlantic and Pacific coastal areas, experienced the most drought during this period. A sharp increase of the drought area and the number of extreme drought events took place from 1997 to 2003 in both Asia and North America. Severe drought events were more likely to occur during the summer on both continents. Asia had the most extreme drought events during July, but North America reached its highest drought frequency from June to September. In Asia, a persistent increasing trend of extreme drought emerged throughout the studied period. However, a more complex evolution of drought emerged in North America: a decreasing trend appeared before the mid-1960s and an increasing trend appeared after the late 1970s. A relatively steady dry/wet status was observed between the mid-1960s and the late 1970s. The role of exceptional, extreme drought events with respect to the La Nina event was considered during 1997-2003.