The phytohormones are pivotal chemical messengers produced within the plant that regulate its growth and development, and responses to environmental stimuli. Drought and salinity are adverse environmental factors that disturb the plant hormonal balance. Accordingly, these hormonal fluctuations modify the cellular dynamic and hence they play a central role in regulating plant growth responses to abiotic stresses such as drought and salinity. The present review gives an update about the alterations of endogenous phytohormones such as abscisic acid (ABA), auxins (Aux), cytokinins (CKs), ethylene (ET), gibberellins (GAs), jasmonates (JAs), salicylic acid (SA), brassinosteroids (BRs), strigolactones (SLs) and nitric oxide (NO) that occur as part of the adaptative responses of plant against drought and salt stresses. Better understanding of the endogenous hormonal changes during the plant response to both abiotic stresses will contribute, in part, to the development of stress-tolerant plants.