To uncover the internal mechanisms of various drought stress intensities affecting the soluble sugar content in organs and its regulation by endogenous abscisic acid (ABA), we selected the saplings of Platycladus orientalis, a typical tree species in the Beijing area, as our research subject. We investigated the correlation between tree soluble sugars and endogenous ABA in the organs (comprised of leaf, branch, stem, coarse root, and fine root) under two water treatments. One water treatment was defined as T1, which stopped watering until the potted soil volumetric water content (SWC) reached the wilting coefficient and then rewatered the sapling. The other water treatment, named T2, replenished 95% of the total water loss of one potted sapling every day and irrigated the above-mentioned sapling after its SWC reached the wilt coefficients. The results revealed that (1) the photosynthetic physiological parameters of P. orientalis were significantly reduced (p < 0.05) under fast and slow drought processes. The photosynthetic physiological parameters of P. orientalis in the fast drought–rehydration treatment group recovered faster relative to the slow drought–rehydration treatment group. (2) The fast and slow drought treatments significantly (p < 0.05) increased the ABA and soluble sugar contents in all organs. The roots of the P. orientalis exhibited higher sensitivity in ABA and soluble sugar content to changes in soil moisture dynamics compared to other organs. (3) ABA and soluble sugar content of P. orientalis showed a significant positive correlation (p < 0.05) under fast and slow drought conditions. During the rehydration stage, the two were significantly correlated in the T2 treatment (p < 0.05). In summary, soil drought rhythms significantly affected the photosynthetic parameters, organ ABA, and soluble sugar content of P. orientalis. This study elucidates the adaptive mechanisms of P. orientalis plants to drought and rehydration under the above-mentioned two water drought treatments, offering theoretical insights for selecting and cultivating drought-tolerant tree species.