The hydrological cycle is expected to intensify in response to global warming. Yet, little unequivocal evidence of such an acceleration has been found on a global scale. This holds in particular for terrestrial evaporation, the crucial return flow of water from land to atmosphere. Here we use satellite observations to reveal that continental evaporation has increased in northern latitudes, at rates consistent with expectations derived from temperature trends. However, at the global scale, the dynamics of the El Niño/Southern Oscillation (ENSO) have dominated the multi-decadal variability. During El Niño, limitations in terrestrial moisture supply result in vegetation water stress and reduced evaporation in eastern and central Australia, sou...