We investigated photosynthetic characteristics of Chorispora bungeana under conditions of drought stress caused by different concentrations of polyethylene glycol-6000 (PEG; 0, 5, 20, and 40%) and various concentrations of exogenous glycine (0, 5, 10, and 20 mM) with 20% PEG. We showed that moderate and severe drought stress of PEG reduced chlorophyll (Chl) content (both Chl a and b), maximal quantum yield of PSII photochemistry (F_v/F_m), and quantum yield of regulated energy dissipation (Y_NPQ), but Chl a/b and quantum yield of non-regulated energy dissipation (Y_NO) increased. The low and moderate drought stress increased Mg²⁺ and Fe³⁺ contents, while a decrease of Mg²⁺ and Fe³⁺ were found under severe drought. Compared to sole PEG stress, the addition of exogenous 10 mM glycine increased Chl, Mg²⁺ and Fe³⁺ contents, F_v/F_m, actual quantum yield of PSII photochemistry, and Y_NPQ, and reduced Y_NO. On the contrary, 20 mM glycine showed an opposite effect, except for Y_NO. Our results proved that Chl contents and fluorescence parameters are reliable indicators for drought tolerance of Chorispora bungeana. We suggest that a proper glycine content can relieve the effect of drought stress on Chorispora bungeana.