The continuous change in climate, along with irregular rainfall patterns, poses a significant threat to sustainable agricultural productivity worldwide. Both high temperatures and drought stress are key factors limiting crop growth, and with global climate change, the occurrence of combined heat and drought stress is expected to rise. This will further exacerbate the vulnerability of agricultural yield. Simultaneous heat and drought stress is prevalent in field conditions, and while extensive research has been done on the individual effects of heat and drought stress on plants, little is known about the molecular mechanisms underlying plant acclimation to a combination of these stressors. The reproductive stage, especially the flowering phase, has been identified as the most sensitive to both heat and drought stress, leading to sterility in plants. However, our understanding of the combined stress response in commonly used crop plants is still limited. Hence, it is crucial to study and comprehend the effects and interactions between high temperatures and drought stress during the reproductive stages of crops. This review delves into the morpho-physiological changes in reproductive organs of various plant species under combined heat and drought stress and also details the molecular regulation of the mechanism of combined stress tolerance in plants. Notably, the article incorporates expression analyses of candidate genes in rice flowers, emphasizing the utilization of modern biotechnological methods to enhance stress tolerance in plants. Overall, the review provides a comprehensive insight into the regulation of floral development in plants following concurrent heat and drought stress.