The aim of this study is to determine the drought stress index through photochemical analysis in red pepper (Capsiumannuum L.). The photochemical interpretation was performed in the basis of the relation between Kautsky effect and Photosystem II (PSII) following the measurement of chlorophyll, pheophytin contents, and $CO_2$ assimilation in drought stressed 5-week-old red pepper plants. The $CO_2$ assimilation rate was severely lowered with almost 77% reduction of chlorophyll and pheophytin contents at four days after non-irrigation. It was clearly observed that the chlorophyll fluorescence intensity rose from a minimum level (the O level), in less than one second, to a maximum level (the P-level) via two intermediate steps labeled J and I (OJIP process). Drought factor index (DFI) was also calculated using measured OJIP parameters. The DFI was -0.22, meaning not only the initial inhibition of PSII but also sequential inhibition of PSI. In real, most of all photochemical parameters such as quantum yield of the electron transport flux from Quinone A ($Q_A$) to Quinone B ($Q_B$), quantum yield of the electron transport flux until the PSI electron acceptors, quantum yield of the electron transport flux until the PSI electron acceptors, average absorbed photon flux per PSII reaction center, and electron transport flux until PSI acceptors per cross section were profoundly reduced except number of QA reducing reaction centers (RCs) per PSII antenna chlorophyll (RC/ABS). It was illuminated that at least 6 parameters related with quantum yield/efficiency and specific energy fluxes (per active PSII RC) could be applied to be used as the drought stress index. Furthermore, in the combination of parameters, driving forces (DF) for photochemical activity could be deduced from the performance index (PI) for energy conservation from photons absorbed by PSII antenna until the reduction of PSI acceptors. In conclusion, photochemical responses and their related parameters can be used as physiological DFI.