This study analyzes drought conditions in the Aegean region using monthly precipitation data from nine stations between 1972 and 2020. The Standardized Precipitation Index (SPI) was calculated for 1-, 3-, 6-, 9-, and 12-month periods to evaluate drought conditions at different timescales and station-specific conditions. The results indicate that short-term droughts are more frequent but shorter in duration, while longer periods exhibit fewer but more prolonged droughts. The relative frequency of drought across all periods ranges between 9% and 27%. The İzmir and Denizli stations were highlighted due to their representation of coastal and inner regions, respectively. The findings show that coastal stations, like İzmir, experience more frequent wet years compared to inner stations like Denizli, which have more dry years. Time series linear autoregressive (AR) models, using SPI-12 data, were developed to represent long-term drought trends and forecasts. The best-fitting models were determined using AIC, AICC, FPE, and Var(e) criteria, with AR(2) generally being the most suitable, except for Denizli. This integrated analysis of SPI and AR models provides a robust basis for understanding regional precipitation regimes and predicting future droughts, aiding in the development of effective drought mitigation strategies and water resource management. Future research is anticipated to extend this analysis to encompass all of Turkey and explore various time series models’ applicability.