Risks associated with drought are increasing and are a global problem. Therefore, there is a need for new solutions for the safe production of food, while maintaining respect for the environment. Fungicides are designed to protect maize plants against disease, but some of the active substances used in preparations can also promote plant growth, which is known as the 'physiological effect'. However, there is a paucity of information as to how some of the 'new generation' fungicides act in stimulating grain yield in plants under abiotic stress, especially drought. Therefore, the effects of these products on conventional and stay-green maize varieties need to be better understood in order to reduce losses caused by droughts and to maximize production. In this study, the effect of a pyraclostrobin + epoxiconazole fungicide preparation on maize plants was evaluated at different times after spraying; during induced drought conditions and again during the regeneration process of the plants. The preparation was applied to 'KWS 1325' (conventional) and 'Ambrosini' (stay-green) varieties at the recommended dose, three times in greenhouse conditions. Plant gas exchange, plant water use efficiency, chlorophyll fluorescence and fresh and dry plant biomass were evaluated. The pyraclostrobin + epoxiconazole preparation increased stomatal conductance and photosynthesis intensity in the 'Ambrosini' plants. When maintained under a high light intensity, the variety used increased efficiency and exchanged excessive energy in the form of thermal energy to protect the maize leaf from light-induced damage under drought stress. Plant photosynthetic efficiency (ETR and Yield parameters) during drought stress and after regeneration was significantly higher in treated plants than in the controls. Thus, the beneficial effects on the physiology of the maize varieties grown under drought stress from the fungicide application are significant for farmers and growers.