In the late summer and autumn of 2019, the most severe meteorological drought struck the middle and lower reaches of the Yangtze River Valley (MLRYRV) in the past 50 years, bringing serious adverse effects on agriculture, ecology and water resources in seven provinces located in the MLRYRV. Using datasets of daily temperature and precipitation at stations in China and daily meteorological drought composite index, this paper analyzed the main characteristics of this severe drought in the seven provinces (Hubei, Hunan, Anhui, Jiangxi, Jiangsu, Zhejiang and Fujian) in 2019. The spatio-temporal evolution of the drought was also briefly compared with the spring drought in 2011, which was the most serious drought in spring of recent decade. The analysis showed that from late July to autumn in 2019 (from 20 July to 30 November), the regional average precipitation was the lowest in the same period of recent 50 years, and the average dry days and the average temperature were respectively the second most and the highest during the same period since 1961. The continuous high temperature and few rainfall in this area led to the rapid development of meteorological drought. The average and maximum area above the severe drought level have reached the largest in the same period of history since 1961, making it the most seriously continuous drought in late summer and autumn during the past 50 years. The significant characteristics of this severe drought are as follows: the drought had a wide range of influence and great intensity; the drought started from the lower reach of Yellow River and Huai River and terminated in the regions south of the Yangtze River Valley, where it persisted for a very long time and caused the most serious drought disaster; the drought vibrated from east to west and oscillated from north to south in longitudes and latitudes, respectively; and its averaged intensity and duration in each stage showed a wave characteristic with roughly reversed phase.