Soybean is one of the most economically important crops and has experienced adverse physiological and biochemical effects when subjected to drought stress and heat, resulting in lost productivity. Thus, the objective of this work was to evaluate the physiological, metabolic and growth responses of well-watered and drought-treated soybean cultivars under high temperature. The experimental design was set up in randomized blocks, in a factorial scheme with three soybean cultivars (7739 M, Anta 82 and Desafio) and two water levels (100% and 40% field capacity). The experiment was conducted in a controlled growth chamber with a gradual rise in temperature at 41°C for 5 hours daily. Morpho-physiological and metabolic analyses were performed 12 days after the treatments imposition. The parameters of water and osmotic potentials, relative water content, photosynthetic rate, stomatal conductance, transpiratory rate, electron flux for the carboxylation and oxygenation of RuBisCO were decreased for all cultivars under water deficit and high temperature. The results showed that the photorespiration and the rate of electrolyte leakage were increased as well. These results showed that these physiological behaviors are standard for soybean plants under water deficit, regardless of cultivars. The cultivars 7739 M and Desafio showed lower performance than the cultivar Anta 82 for the parameters of total electron flow and effective quantum yield of PS II. The 7739 M and Anta 82 were the only cultivars to show increased nonphotochemical quenching dissipation and total soluble sugar content, respectively, under stress conditions. Desafio cultivar demonstrated greater physiological and growth traits stability, which could potentially indicate double tolerance to these stresses.