Drought is one of the severe natural disasters that has devastating effects on various parts of the environment. Therefore, spatiotemporal monitoring of drought using reliable methods is very important. In this study, using a new Discrete Wavelet Transform (DWT)-Variational Mode Decomposition (VMD)-Energy multi-scale approach, the efficiency of the new Soil Moisture to Rain-Advanced SCATterometer (SM2RAIN-ASCAT) precipitation product was investigated in monitoring the spatiotemporal patterns of short- to long-term droughts for the Northwest part of Iran. In this regard, after validating the accuracy of the SM2RAIN-ASCAT datasets, a multi-scale method was developed based on the serial decomposition of the drought signals. The mean energy amounts of the obtained subseries were imposed into the K-means (K signifies the number of clusters) to identify the drought-prone regions. Results showed that the highest Correlation Coefficient (R) between SM2RAIN-ASCAT and in-situ observations are found at monthly time scales, in which 73% of the stations had R higher than 0.7. Investigating the reliability of this product for drought monitoring showed that for short- and mid-term timescales in 75% of the stations, the values of R were higher than 0.7. The applied methodology successfully showed the drought-prone regions and a direct relationship was found between energy and drought intensity. The capability of the applied methodology was verified via the CPC Merged Analysis of Precipitation (CMAP) and Moderate Resolution Imaging Spectroradiometer (MODIS) products and the obtained results proved the desirable performance of the SM2RAIN-ASCAT datasets. It was found that SOI, Nino3, and Nino3.4 had major effects on the drought index in the selected area, while AO had the least effect. The relationship between the LST and SPIs was negative, while there was a positive relationship between NDVI and SPIs.