Functionality of the photosynthetic system under water stress is of major importance in drought tolerance. Oat (Avena sativa L.) doubled haploid (DH) lines obtained by pollination of F_{1} oat crosses with maize were used to assess the differences in plant genotypic response to soil drought. The investigations were based on the measurements of gas exchange and chlorophyll a fluorescence kinetics. Drought was applied to 17-day-old seedlings by withholding water for 14 days and subsequent plant recovery. Non-stressed optimally watered plants served as controls. Yield components were determined when plants reached full maturity. It was shown differences among the oat lines with respect to drought stress susceptibility (SI) and stress tolerance index mean productivity and drought susceptibility index. Sensitivity to drought of individual DH lines was significantly different, as demonstrated by the correlation between drought susceptibility index and yield components, such as dry weight (GW) or grain number (GN) of the harvested plants. GW and GN were lower in drought-sensitive genotypes exposed to drought stress compared to those resistant to drought. The principal component analysis allow to separate three groups of lines differing in their sensitivity to drought stress and indicated that tolerance to drought in oat has a common genetic background.