Drought recurrence in the Mediterranean is regarded as a fundamental factor for socioeconomic development and the resilience of natural systems in context of global change. However, knowledge of past droughts has been hampered by the absence of high‐resolution proxies. We present a drought reconstruction for the northeast of the Iberian Peninsula based on a new dendrochronology network considering the Standardized Evapotranspiration Precipitation Index (SPEI). A total of 774 latewood width series from 387 trees of P. sylvestris and P. uncinata was combined in an interregional chronology. The new chronology, calibrated against gridded climate data, reveals a robust relationship with the SPEI representing drought conditions of July and August. We developed a summer drought reconstruction for the period 1734–2013 representative for the northeastern and central Iberian Peninsula. We identified 16 extremely dry and 17 extremely wet summers and four decadal scale dry and wet periods, including 2003–2013 as the driest episode of the reconstruction.