The basic leucine zipper (bZIP) represents one of the largest as well as most diverse transcription factor (TFs) families. They are known to play role in both stress as well as in various plant developmental processes. In the present study, a total of 191 bZIP transcription factors have been identified from Triticum aestivum. Expression analysis during various stress conditions, developmental stages, different varieties and gene ontology enrichment analysis suggest their possible roles in abiotic stress as well as in developmental responses. In the current analysis, one of the members named as TabZIP (Traes_7AL_25850F96F.1) was selected for detailed analysis to understand its role under different abiotic stress conditions. Gene expression studies revealed differential expression of TabZIP in various abiotic stress conditions like heat, salinity and dehydration suggesting the possible role of bZIP in various stress mitigation mechanism. Arabidopsis transgenics overexpressing TabZIP showed enhanced tolerance to salinity, drought, heat and oxidative stress. Thus TabZIP (Traes_7AL_25850F96F.1) can serve as a candidate gene for improving heat as well as other abiotic stress tolerance and can be helpful in enhancing the crop productivity under stress conditions.