Downscaling of daily precipitation from Global Circulation Models (GCMs)-predictors at a station level, especially in arid and semi-arid regions, has remained a formidable challenge yet. The current study aims at proposing a coupled model of Discrete Wavelet Transform (DWT), Artificial Neural Networks (ANNs), and Quantile Mapping (QM) for statistical downscaling of daily precipitation. Given the historic (1978–2005) and future (2006–2100) predictors of eight-selected GCMs under Representative Concentration Pathways (RCPs) 2.6, 4.5, and 8.5, a viable DWT-ANN model was developed for each station. Subsequently, we linked QM to DWT-ANN for bias correction and drizzle effect postprocessing of the DWT-ANN-historic/future projected precipitation. The skill of DWT-ANN-QM was demonstrated using various evaluation metrics, including Taylor diagram, Quantile–Quantile plot, Empirical Cumulative Distribution Function, and wet/dry spell analysis. We appraise the efficacy of the coupled model at 12 weather stations over the Gharehsoo River Basin (GRB) in northwestern Iran. Compared to the observed wet/dry spells, the dry-spells were better simulated via DWT-ANN-QM rather than the wet-spells wherein length and exceedance probability of the spells were overestimated. Results indicated that the future precipitation across the GRB will rise, on average, from 10 to 17% depending on weather station. Seasonal spatial distribution of the middle future (2041–2070) precipitation illustrated that an increase for fall and winter, especially, is expected, whereas the amount of the future spring and summer precipitation is projected to be declined. Having been developed and tested in a semi-arid basin, the efficacy of the coupled model should be further assessed in more humid climates.