Nitric oxide (NO) plays an important role in the plant life cycle and their tolerance to different stress factors, including drought. We studied the effects of NO-donor (SNP-sodium nitroprusside) on wheat plants subjected to dehydration induced by 12% PEG. The presence of SNP (200 μM) in the germination medium stimulated seedlings growth and alleviated stress impact on wheat plants as evidenced by seedlings length data, their fresh and dry weight, and mitotic index. Since hormonal system plays a key role in plant growth and development we analyzed the changes in the phytohormones content of SNP-treated and subjected to dehydration plants. SNP treatment promoted almost 2-fold elevation in the cytokinins level without significant changes in the content of IAA and ABA. Dehydration induced a rapid accumulation of ABA and decreasing in the cytokinins and IAA levels. SNP-pretreated plants characterized by diminution of stress-induced alterations in the ABA and IAA concentrations, and by the maintenance of cytokinins content at the control level. Moreover, SNP-treatment normalized water balance of plants subjected to water stress which is confirmed by the data of leaf relative water content, osmotic potential, and transpiration rate. So the ability to influence on the hormonal system and water regime balance may significantly contribute to the growth-stimulating and protective effects of NO on wheat plants under normal and drought stress conditions.