Floral bud induction is of great importance for fruit crops, which may substantially affect fruit yield. Previously, a FLOWERING BHLH (FBH) transcription factor gene HpbHLH70 was identified in pitaya (Hylocereus polyrhizus) as subjected to drought stress. In present work, HpbHLH70 was found predominantly activated in pitaya anthers. GUS fusing reporter assay showed its selective activation in anthers and vasculatures of transgenic Arabidopsis. Moreover, HpbHLH70 is drought inducible, which was further supported by the deepened GUS staining under drought condition, indicating a HpbHLH70-mediated crosstalk between drought response and floral bud induction, which partially explained the advanced floral bud induction in pitaya by drought stress. Overexpression of HpbHLH70 in pitaya improved the drought tolerance by enhancing the water-holding capacity and the ROS-scavenging activity. Meanwhile, overexpression of HpbHLH70 in Arabidopsis improved their behaviors under drought stress. Intriguingly, the transgenic Arabidopsis flowered earlier than the wild-type. In addition, HpbHLH70 was verified to heterodimerize with HpbHLH59 and transactivate the floral-bud-induction regulator HpSOC1 via direct binding to the promoter. Overexpression of HpbHLH70 up-regulated the expression of HpSOC1 in pitaya. Collectively, our data uncover that drought-induced HpbHLH70 enhances drought tolerance and may accelerate floral bud induction in pitaya via heterodimerization with HpbHLH59 and transactivation of HpSOC1.