In order to explore the influence of water stress on the growing characteristics and physiological index of rice at different growing stage, using ‘Nongda 3’ variety (145 days) as a material, by means of pot cultivation and manual rigorously controlling soil potential (-75 kPa) with tension-meter, the effects of soil water stress on the growing and physiological index of rice were studied. The results indicated that, when the soil drought stress during the tillering period, the efficacious panicles reduced 6.05-9.52 panicles each cluster, and the drought stress occurred earliest the influence were more obviously then others. Regardless of any period drought stress occurring, the dry material weight decreased after drought stress, and it dropped 11.20-25.94 g each cluster untill maturing period, and the effects of sequence were: booting stages > tillering period > stages after heading. As to leaf area index the decline appeared at the stage after drought stress, and accompanied by leaf aging and yellowing of contrast plot, the leaf area index gradually recovered to the normal, and drought stress occurred the earliest the difference were the smallest. If the drought occurred at tillering later stage, booting earlier stage and mid-term, the functional leaves (top 3 leaves) would be shorted. Drought stress affected the photosynthetic rate of flag and second leaf count backwards mainly at tillering and booting stages, i.e. booting stages > tillering stages > period after heading, and flag leaves decreased 3.25%-26.50%. The tendency of second leaf count backwards were the same to flag leaves, and photosynthetic rate gone or came down 3.93%-39.66% compared with CK, and the falling range greater than flag leaves. And the photosynthetic rate of two functional leaves were a little more than leaves of CK, when drought stress occurred at milk-ripe stage and stage of wax ripeness, because the drought dress not yet processed during the period of determination. No matter any time the drought stress occurred, the chlorophyll content (SPAD) would be increased. And the drought stress occurring at different growing stage of rice would result in the number of productive panicles, biological yield, leaf area index, photosynthetic rate decreased and functional leaves shorted, it finally resulted in the yield dropped to 3.57%-50.79%.