In Vietnam, drought has been occurring persistently and in very complicated patterns, with a great impact on the water, energy, and food security nexus and regional development sustainability. The uncertainty surrounding annual water resources in combination with the low reliability of interbasin water transfer (IBWT) operations is the key driver of water deficits in several affected regions. This study aims to assess the impacts of four big IBWT projects in the Central Highlands of Vietnam, based on a proposed matrix of five evaluation criteria to quantify related impacts and to draw out lessons learned for future development of IBWT. The proposed criteria matrix was formulated on the basis of intensive reviews of IBWT assessments worldwide and relevant Vietnamese laws in force. The impacts were analysed and quantified mainly based on assessment of their operational database and water balance simulations for donor and recipient river basins in current and future states. The results show that the studied IBWT projects did not fully satisfy the proposed criteria set, all project did not meet the criteria of benefit sharing and information transparency; noticeably the Don Duong project fulfilled only one from five. Four lessons were determined for proper planning in river basins, flexibility in system design for unknown future, inadequate environmental impact assessment and delay in enactment of policies for IBWT project management. The results provide sound knowledge to revise the existing projects in the Central Highlands and procedures for impact assessment and approval of new IBWT systems.