The vegetation is one of main drying carriers. The change of Vegetation Water Content (VWC) reflects the spatial-temporal distribution of drought situation and the degree of drought. In the present paper, a method of retrieving the VWC based on remote sensing data is introduced and analyzed, including the monitoring theory, vegetation water content indicator and retrieving model. The application was carried out in the region of Southwest China in the spring, 2010. The VWC data was calculated from MODIS data and spatially-temporally analyzed. Combined with the meteorological data from weather stations, the relationship between the EWT and weather data shows that precipitation has impact on the change in vegetation moisture to a certain extent. However, there is a process of delay during the course of vegetation absorbing water. So precipitation has a delaying impact on VWC. Based on the above analysis, the probability of drought monitoring and evaluation based on multi-spectral VWC data was discussed. Through temporal synthesis and combined with auxiliary data (i.e. historical data), it will help overcome the limitation of data itself and enhance the application of drought monitoring and evaluation based on the multi-spectral remote sensing.