Drought stress impairs the normal growth and development of plants through various mechanisms including the induction of cellular oxidative stresses. The aim of this study was to evaluate the effect of the exogenous application of methyl jasmonate (MeJA) and salicylic acid (SA) on the growth, physiology, and antioxidant defense system of drought-stressed French bean plants. Application of MeJA (20 μM) or SA (2 mM) alone caused modest reductions in the harmful effects of drought. However, combined application substantially enhanced drought tolerance by improving the physiological activities and antioxidant defense system. The drought-induced generation of O2●− and H2O2, the MDA content, and the LOX activity were significantly lower in leaves when seeds or leaves were pre-treated with a combination of MeJA (10 μM) and SA (1 mM) than with either hormone alone. The combined application of MeJA and SA to drought-stressed plants also significantly increased the activities of the major antioxidant enzymes superoxide dismutase, catalase, peroxidase, glutathione peroxidase, and glutathione-S-transferase as well as the enzymes of the ascorbate–glutathione cycle. Taken together, our results suggest that seed or foliar application of a combination of MeJA and SA restore growth and normal physiological processes by triggering the antioxidant defense system in drought-stressed plants.