Nowadays, water deficit is one of the major environmental stress issues affecting sugarcane crops around the world. It has been causing significant production decrease due to the increased mortality rates generated by water stress in sugarcane plantations. The aim of the current study is to assess sugarcane morphological and yield responses during different phenophases of sugarcane varieties when plants are subjected to drought stress in the fields of a tropical region. Six sugarcane varieties, namely: SP79-1011, RB855113, RB92579, RB867515, RB72454, and RB855536, were subjected to water stress. The herein adopted water regimes were (i) irrigated crop and (ii) crop subjected to natural drought in the field. Plants were cultivated under water stress imposition throughout three phenological stages (i) tillering, three months after planting; (ii) intense growth, seven months after planting; and (iii) ripening, eleven months after planting. The irrigation treatment consisted of supplementing the crop with 50 mm of water per month during the dry season, whereas non-irrigated plants were naturally grown under water stress conditions throughout the experiment. Water stress mostly affected the sugarcane crop during the intense growth phase. Varieties RB72454 and RB855536 presented smaller green-leaf number, as well as narrower leaf width and smaller leaf area under water stress; besides, they showed low productive potential and high stress susceptibility index (SSI). Stalk height maintenance and the larger number of tillers in RB92579 plants subjected to water stress helped balancing yield rates. This variety also showed the best drought tolerance (DTI) and yield/tolerance indices (YTI); moreover, the principal component analysis evidenced that leaf area, plant height and yield were important factors to distinguish the most tolerant varieties. Such results show that RB92579 is more drought tolerant and has better physiological acclimation potential than the other five varieties; therefore, it can be recommended for crops subjected to drought periods.