The agriculture sector is the most important, however, most vulnerable to climate change in Asia and the Pacific. Droughts are one of the leading sources of disaster risks that can alter yield levels and cause sizeable productivity losses in agricultural products. In response, the farmers are adopting several climate risk management strategies. Therefore, this study aims to find out farmers’ preferences for climate change adaptation strategies and their potential determinants. Data were collected from randomly selected 200 farmers in District Nowshehra, Khyber Pakhtunkhwa. A multivariate probit model was used to assess the impacts of various factors on farmers’ decisions to adopt a particular adaptation strategy. The findings of the study revealed that rainwater harvesting, change in the planting dates, soil conservation, ponds building, and terraces with spillways were the dominant adaptation strategies found to combat the ill effects of droughts in the study area. Furthermore, the study highlighted the potential role of socio-economic attributes in the adoption of these adaptation strategies. The findings suggested that the government may extend its support to these farmers in making ponds and providing them the storage of water facilities.