Environmental stresses including salinity, drought, cold, warmer temperatures, alterations in precipitation patterns, fluctuations of weather events, and increasing insect and disease infestations negatively affect crop production and nutritional values. This situation becomes further complicated due to the changing climatic conditions, thus raising concern about food security worldwide. Some worst‐case projections indicated that by 2100, CO2 concentrations will reach 950 parts per million, temperatures will climb by 3.5 to more than 8°C, sea level will rise by more than 2.4 meters, and the average farmland drought risk index will increase from 52.45 to 129. In addition, average precipitation will increase by 1%–3% in some areas and atmospheric water vapor will increase by 6%–7% for every degree of temperature rise. Rice (Oryza sativa L.) is a staple crop in many parts of the world. The main objective of this review is to highlight the prospects of rice for future climatic conditions. The present review depicts the advantages and prospects of rice and addresses why rice is a better option as a cereal crop for the future situations for food and nutritional sustainability. The impact of climate change on food and nutritional security can be mitigated by developing biotic and abiotic stress‐tolerant and biofortified rice varieties. These rice cultivars can withstand the negative effects of climate change while also meeting the nutritional needs of future generations. Furthermore, this review underlines the forthcoming issues and measures that should be addressed to assure a sustainable food and nutritional supply in the era of global climate change.