High temperature stress is projected to be one of the major stresses of limiting rice productivity worldwide in future climate change scenario. This review explicates the key physiological traits for tailoring high temperature tolerance in rice. These physiological traits can be used to explore the genetic variability among rice germplasm and to develop the improved genotypes through breeding programs. Traits influenced under high day and night temperature are highlighted for understanding differential temporal and phenological regulation. Application of plant hormones and inorganic elicitor molecules to induce short term acclimation response have been shown to be useful for mitigating high temperature stress effects specifically when applied at critical growth stge.