To evaluate the effect of drought stress on yield, yield component and spike related traits in wheat cultivars, an experiment carried out in a strip-plot experiment with a randomized complete blocks design with three replications at Seed and Plant Improvement Institute in Karaj region in 2005. In this experiment four irrigation levels control (a1), mild stress(a2), moderate stress(a3), high stress(a4) and eleven cultivars were levels of horizontal and vertical factors respectively. Stress conditions was applied with line source sprinkler to irrigate cultivars, so amount of water used for each treatments were:(a1=5700 cubic meters, a2=4500cubic meters, a3=3000cubic meters, a4=2100 cubic meters). After harvest, traits including: Grain yield, 1000 kernel weight ,number of spike per plant, spike length, spikelet number per spike, main spike weight, number of kernel per spike, sterile spikelet number and grain yield in main spike were recorded. Analysis of variance showed that there were significant differences among all cultivars and irrigation levels and droughut, stress reduced all traits. Compa, risons of means showed that Sardari and Azadr2 cultivais were significantly (a=5%) better in Grain yield, 1000 kernel weight, number of spike per plant and spike weight than others. Also optimum irrigation level was better than other treatments. Finally between yield and yield components, positive and significant correlation observed?