ABSTRACTIt has been broadly reported that future climate change will most likely affect the spatio‐temporal distribution of water resources and consequently droughts. There is a prevailing notion that an increase in temperature and frequency of heat waves are expected to result in more intense droughts in the coming years. In this study, we aimed to evaluate the effect of the potential evapotranspiration (PET) method selection on future drought projections over Poland. In our study, simulations of the Soil and Water Assessment Tool (SWAT) model were conducted, utilising an ensemble of six EURO‐CORDEX projections, spanning the period from 2006 to 2100 under the RCP8.5 scenario. Two model setups with two different PET methods (Penman‐Monteith—PM and Hargreaves—HAR) were used. For drought conditions evaluation we selected the Standardized Precipitation Index (SPI) and Standardized Precipitation‐Evapotranspiration Index (SPEI) for meteorological drought, Standardized Streamflow Index (SSI) for hydrological drought, and Standardized Soil Moisture Index (SMI) for agricultural drought. The meteorological and hydrological droughts were calculated using a 12‐month time aggregation window, while agricultural drought was calculated using a 3‐month window. Climate projections revealed that by 2080s annual mean temperature and precipitation increase is expected by up to +3.4°C and +10.3% respectively. Under future climate conditions duration and severity of meteorological droughts are projected to decrease. PM method leads to a higher PET increases (1.35 mm year−1) than the HAR method (1.1 mm year−1) throughout the century which entail diverging signal of change for agricultural and hydrological droughts. PM‐ and HAR‐based simulations indicate increase in the total duration and cumulative severity of agricultural droughts, buthowever, for HAR‐based projections, the increase is much less. For hydrological droughts the signal of change is similar for both PET methods, but considerably distinct in magnitude. Considering the entire simulation period, by the end of the century cumulative severity of hydrological droughts is projected to decrease, with a much more pronounced decline for HAR (70% reduction) than for the PM method (35% reduction). Our study demonstrated that methodological choices are crucial to the assessment of future drought risk under climate change.