The physiological responses of C4 species to simultaneous water deficit and low substrate temperature are poorly understood, as well as the recovery capacity. This study investigated whether the effect of these abiotic stressors is cultivar-dependent. The differential responses of drought-resistant (IACSP94-2094) and drought-sensitive (IACSP97-7065) sugarcane cultivars were characterized to assess the relationship between photosynthesis and antioxidant protection by APX and SOD isoforms under stress conditions. Our results show that drought alone or combined with low root temperature led to excessive energetic pressure at the PSII level. Heat dissipation was increased in both genotypes, but the high antioxidant capacity due to higher SOD and APX activities was genotype-dependent and it operated better in the drought-resistant genotype. High SOD and APX activities were associated with a rapid recovery of photosynthesis in IACSP94-2094 plants after drought and low substrate temperature alone or simultaneously.