Drought is one of the most menacing calamities confronted by agrarian economy-dependent countries. Monitoring drought can be valuable in lessening the long-term impacts on food security and achieving zero hunger. This research monitored the spatio-temporal variation of agricultural droughts in Bangladesh from 2000 to 2020, using the MODIS-derived vegetation health index. Several MODIS-derived indices were also calculated using the Google Earth Engine. The droughts are measured based on three cropping seasons in Bangladesh, including Kharif-1 (mid-May to mid-June), Kharif-2 (mid-June to mid-October), and Rabi (mid-October to mid-May). During the Rabi season, agricultural droughts peaked in 2000 and 2008, when around 90.90% and 68.12% of the area was under drought conditions, respectively. Bangladesh faced droughts during the Kharif-1 season in 2001, 2006, and 2014, when 79.84%, 72.35%, and 66.06% of areas suffered droughts, respectively. The Kharif-2 season drought was highest during 2002, 2009, and 2014 when around 46.76%, 42.67%, and 40.64% of areas in Bangladesh encountered droughts, respectively. A declining trend in drought was noticed in recent years during the Rabi and Kharif-1 seasons, whereas a continuous trend was noticed in the Kharif-2 season. This research can be crucial for agronomic planners to devise plans effectively and alleviate the potential effects of droughts.