In the present study, we cloned a DREB gene by PCR based on the third-generation transcriptomic data of Psammochloa villosa and analyzed by bioinformatics. We analyzed the expression pattern of PvDREB gene and its expression characteristics under the drought stress of 20% PEG-6000 through real-time quantitative PCR to explore the function and role of DREB transcription factor under drought stress. It lays a foundation for revealing the molecular mechanism of PvDREB gene of P. villosa response to drought stress. The results showed that: (1) we have successfully cloned a DREB gene named PvDREB. The coding sequence length of PvDREB gene was 831 bp, which encoding 276 amino acids and containing a typical conserved domain of AP2 transcription factor. It was a stable hydrophobic protein without signal peptide structure, and had possible transmembrane domain, glycosylation, and phosphorylation sites. (2) The result of phylogenetic analysis indicated that PvDREB gene of P. villosa had the closer relationship with DREB gene of Phyllostachys edulis. (3) The prediction of subcellular localization showed that PvDREB protein was localized in mitochondria and nucleus. (4) qRT-PCR analysis suggested that PvDREB could be induced and expressed in the roots, stems and leaves of P. villosa, but the difference was large, and the expression level was the highest in stems, followed by leaves, and the lowest in roots, with obvious tissue specificity. Under 20% PEG-6000 simulated drought, the expression of PvDREB gene in leaves increased with the increase of drought stress time, reached the highest at 12 h, and then decreased gradually. It was speculated that the expression of PvDREB gene was induced by drought stress, and this gene may play an important role in the response of P. villosa to drought stress.