AbstractDuring the last two decades, inventory data show that droughts have reduced biomass carbon sink of the Amazon forest by causing mortality to exceed growth. However, process‐based models have struggled to include drought‐induced responses of growth and mortality and have not been evaluated against plot data. A process‐based model, ORCHIDEE‐CAN‐NHA, including forest demography with tree cohorts, plant hydraulic architecture and drought‐induced tree mortality, was applied over Amazonia rainforests forced by gridded climate fields and rising CO2 from 1901 to 2019. The model reproduced the decelerating signal of net carbon sink and drought sensitivity of aboveground biomass (AGB) growth and mortality observed at forest plots across selected Amazon intact forests for 2005 and 2010. We predicted a larger mortality rate and a more negative sensitivity of the net carbon sink during the 2015/16 El Niño compared with the former droughts. 2015/16 was indeed the most severe drought since 1901 regarding both AGB loss and area experiencing a severe carbon loss. We found that even if climate change did increase mortality, elevated CO2 contributed to balance the biomass mortality, since CO2‐induced stomatal closure reduces transpiration, thus, offsets increased transpiration from CO2‐induced higher foliage area.