Abstract Tropical terrestrial vegetation is critical to the global carbon cycle but faces escalating drought threats. Traditional assessments using fixed climate thresholds often ignore actual physiological responses and non‐moisture disturbances. To address this, we developed a novel framework that isolates the true physiological impacts of atmospheric and soil moisture (SM) deficits to identify growing‐season vegetation droughts (1982–2019). Results reveal pantropical increases in drought intensity, with tropical forests experiencing significantly sharper intensifications than other biomes. Regionally, African forests exhibit the most severe expansions in drought intensity and area. Interpretable machine learning attributes this intensifying drought predominantly to declining SM (NDVI: 52%; LAI: 53%). Finally, while reliable historical reconstruction is vital for future projections, CMIP6 models fail to reproduce these observed trends. These findings highlight mounting drought pressures on tropical forests and underscore the critical need for improved climate models to inform mitigation strategies.