The adaptive responses of soybean and cotton to various irrigation levels were explored in terms of transpiration, stomatal role in transpiration, leaf temperature (Tl) and CO2 assimilation rate (An). Compared with cotton, soybean showed a lower flow rate of stem sap (FRSS), transpiration rate (E), stomatal conductance (gs), stomatal density and An and had a smaller stomatal area but larger leaf area, heavier root dry matter and higher Tl at all irrigation levels. Under water stress conditions, FRSS, E, gs, and An decreased and Tl increased more in soybean than in cotton. Stomatal area decreased in response to water stress though nonsignificantly but stomatal density was not affected by water stress in soybean. Stomatal area decreased significantly in response to water stress in cotton. We concluded that soybean and cotton adapted to water stress differently. Soybean adapted to water stress by reducing transpiration while cotton adapted to water stress by maintaining higher transpiration as compared with soybean. Soybean reduced the transpiration rate by reducing gs. Reduction of gs in soybean was due to reduced FRSS, which might have resulted from the lower root moisture absorption efficiency. The higher transpiration in cotton was due to a higher gs, which was supported by a higher FRSS, larger stomatal area, and probably the diaheliotropism. The higher gs and transpiration rate suppressed the increase in Tl thus preventing the decrease of An in response to water stress.