Drought risk assessment is usually performed qualitatively and quantitatively depending on the definition a drought. The meteorological drought indices have a limit of not being able to consider the hydrological components such as evapotranspiration, soil moisture and runoff, because it does not consider the water demand in paddies and water supply in reservoirs. Agricultural drought was defined as the reservoir storage shortage state that cannot satisfy water requirement from the paddy fields. The objectives of this study were to suggest improved agricultural drought risk assessment in order to evaluate of regional drought vulnerability and severity studied by using Reservoir Drought Index (RDI). The RDI is designed to simulate daily water balance between available water from agricultural reservoir and water requirement in paddies and is calculated with a frequency analysis of monthly water deficit based on water demand and water supply condition. The results indicated that RDI can be used to assess regional drought risk in agricultural perspective by comparing with the historical records of drought in 2012. It can be concluded that the RDI obtained good performance to reflect the historical drought events for both spatially and temporally. In addition, RDI is expected to contribute to determine the exact situation on the current drought condition for evaluating regional drought risk and to assist the effective drought-related decision making.