Yeast cells are well adapted to interfacial habitats, such as the surfaces of soil or plants, where they can resist frequent fluctuations between wet and dry conditions. Saccharomyces cerevisiae is recognized as an anhydrobiotic organism, and it has been the subject of numerous studies that aimed to elucidate this ability. Extensive data have been obtained from these studies based on a wide range of experimental approaches, which have added significantly to our understanding of the cellular bases and mechanisms of resistance to desiccation. The aim of this review is to provide an integrated view of these mechanisms in yeast and to describe the survival kit of S. cerevisiae for anhydrobiosis. This kit comprises constitutive and inducible mechanisms that prevent cell damage during dehydration and rehydration. This review also aims to characterize clearly the phenomenon of anhydrobiosis itself based on detailed descriptions of the causes and effects of the constraints imposed on cells by desiccation. These constraints mainly lead to mechanical, structural, and oxidative damage to cell components. Considerations of these constraints and the possible utilization of components of the survival kit could help to improve the survival of sensitive cells of interest during desiccation.