To study the effect of drought stress at different phonological stages on yield and yield components of soybean cultivars, an experiment was conducted at the experimental farm of Darrehshahr Agricultural Station, Ilam Province (2009). The experiment was arranged as split plots based on Randomized Complete Block Design with three replications. The treatments that were drought stresses during the 4 leaves stage, flowering stage, podding stage and seed filling stage were located in the main plot and three cultivars (including M7, M9 and Hobit) were located in the sub plot. The results showed that in the %1 statistical probability level, the effect of drought stress and variety on plant height, fertile pod per plant, seeds per plant, seed yield, biological yield, hundred kernel weight, seeds per pod, harvest index and oil percentage were significant. Among soybean cultivars, M9 had the best performance regarding the seeds per pod, hundred kernel weight, seed yield and biological yield. The lowest seed yields were observed in the drought stress during the seed filling stage (2682 kg/ha) and flowering stage (2918 kg/ha), respectively. Both in stress and non stress conditions, the Hobit cultivar produced higher oil percentage than others. Finally, according to the results, M9 is recommended in Darrehshahr region and among all phonological stages, seed filling stage was more sensitive to drought stress occurrence.