Compound droughts and heatwaves (CDHWs) are likely to cause more severe natural disasters than a single extreme event, and they have been exacerbated by rapid global warming. Based on high-resolution grid data, this study combines the daily-scale ERA5-Land dataset and the monthly-scale SPEI dataset with multiple indicators to analyze CDHWs. We calculated and analyzed the temporal and spatial modal distribution of CDHWs in Central Asia from 1981 to 2018, and in this paper, we discuss the sequence relationship between drought events, heatwave events, and CDHWs. The results show that the number of CDHWs in the study region have increased over time and expanded in terms of area, especially in eastern and southwestern Central Asia. The tsum (total frequency of CDHWs) was 0.5 times higher than the total heatwave frequency and it increased at a rate of 0.17/yr. The maximum duration of tmax (maximum duration of CDHWs in days) was 17 days. Furthermore, the occurrence rate of tmax was 96.67%, and the AH (CDHWs’ accumulated heat) had a rate of 97.78%, which, upon examination of the spatial trend pattern, accounted for the largest increase in terms of area. We also found that the TAH (CDHWs’ average temperature anomalies, SPEI < −0.5) shows obvious seasonality, with the increases in winter and spring being significantly greater than the increases in summer and autumn. The intensity of the CDHWs was stronger than that of a single extreme event, the temperature anomaly was higher than the average of 0.4–0.8 °C, and there was a north–south spatial pattern across the study region. In eastern and northwestern Central Asia, the AH and heatwaves (SPEI < −0.5) increased by 15–30 times per year on average. During the transition from the base period to the reference period, CDHWs increased by 25%, and the number of dry days prior to the CDHWs decreased by 7.35 days. The conclusion of our study can provide a theoretical basis for coping with climate change in arid zones.