The mutualistic association between mycorrhizal fungi and plants is well known to improve plant drought resistance. However, the influence of external inoculants on the interactions between soil microbial communities and plant functional traits and how these interactions improve plant drought tolerance under drought stress remain unclear. We conducted a pot inoculation experiment to assess the effect of two inoculated fungal strains (Clitopolius hobsonii NL-19 and C. sp. HSL-YX-7-A) on morphological traits and rhizosphere fungal communities of eight Quercus species seedlings. Plant and soil fungal traits were measured 2 months after inoculation and then underwent a short-term (33 days) drought rewetting treatment. The biomass of all tree species reduced significantly under drought stress followed by rewetting (drought treatment) compared with that in the control treatment (well-watered); however, inoculated mycorrhizal fungi (drought + mycorrhizal inoculation treatment) increased the biomass of five Quercus species (growth-promoting species (GPS) exhibiting a significant increase in biomass under mycorrhizal inoculation treatment than under the uninoculated treatment during drought stress, characterized by a resource-use acquisitive strategy) and had no effect on the other three Quercus species (non-growth-promoting species (NGPS) exhibiting no significant difference in biomass between mycorrhizal inoculation and uninoculated treatments during drought stress, characterized by a resource-use conservative strategy). The leaf traits of the two species groups (GPS and NGPS) varied little among the three treatments. The values of most root traits (e.g., specific root length and root length) of GPS increased significantly under drought and drought + mycorrhizal inoculation treatments compared with those in the control, whereas relatively minor variations were observed in NGPS among the three treatments. The fungal community composition and functional groups (primary trophic modes) in the drought treatment were altered for NGPS but not for GPS; additionally, they changed in the drought + mycorrhizal inoculation treatment for GPS but not for NGPS when compared with those in the drought treatment. Furthermore, the drought tolerance of GPS was improved directly by fungal functional groups (i.e., Pathotroph-Saprotroph- Symbiotrophs proliferation) and indirectly by root traits (e.g., increased specific root length), whereas NGPS may adapt to drought stress through other pathways (e.g., physiological and biochemical regulation). Overall, drought and mycorrhizal inoculation affected the root traits and fungal community structure of Quercus seedlings, which rely on plant resource-use strategies. Our results provide new insights into the relationship between plant resource-use strategies and soil microbes for improving plant performance under drought stress.