Mexican tropical dry forests are remarkably extensive and floristically diverse despite manifesting alarming rates of deforestation. Riparian habitats within dry forests provide critical ecological benefits that may mitigate negative impacts, but processes underlying riparian functions are still not well understood. We identified physical environmental conditions affecting the composition and abundance of standing vegetation assemblages and woody and herbaceous components in soil seedbank assemblages of riparian corridors in central Mexico using mainly NMDS ordination techniques, permuted analysis of variance (PERMANOVA), permuted analysis of multivariate dispersions and constrained ordination (CAP). We then determined representative species associated with particular environmental conditions using an indicator species analysis and assessed the effects of physical environmental variables/factors on total seed abundances by fitting a mixed-effect model. For the standing vegetation study, we assessed the effects of the type of the river condition (differing in surface flow permanence), location, and height above river level on the community composition based on three species importance criteria (abundance, coverage and DBH). For the soil seedbank study, we assessed the effects of these variables/factors plus season and land use. Spatial heterogeneity was a prevailing feature in riparian vegetation, in the standing vegetation and soil seedbank of both woody and herbaceous components. Height above river level had a significant effect on the three species importance criteria of standing vegetation and so did the interaction between surface flow permanence and height on coverage. The soil seedbank of woody and herbaceous plants showed significant differences between seasons; Taxodium mucronatum was an indicator tree species in dry seasons. Land use, height, surface flow permanence and the interaction between land use and surface flow permanence had significant effects on the soil seedbank of herbaceous plants. Total seed abundances in the soil varied between years and were higher at lower height values, during the dry seasons, and when rivers were permanent. Tree communities, commonly the most important elements in riparian ecosystems, were preserved in the soil seedbank of cultivated areas for >30 years. Seeds of herbaceous communities were predominant and ecologically relevant as indicator species because of their high sensitivity to several key environmental factors, constituting a critical component of Mexican tropical dry forests riparian corridors.