Amend the top 8 to 12 inches of soil with 4 or 5 inches of compost, peat moss or another type of organic matter. Dracaenas tolerate most soil types, but they thrive in well-draining, fertile soil.
Shovel out a hole for the Dracaena that is the same depth and two times as wide as its current pot. Space multiple Dracaena plants 36 to 60 inches apart.
Remove the Dracaena from its pot. You may need to tap the sides of the pot, or slide a knife between the soil and pot to loosen it. Gently tug on the plant near the base to remove it.
Set the Dracaena in the hole, and backfill the soil to fill it in, patting lightly to remove any air pockets.
Provide the newly planted Dracaena with 1 inch of water to hydrate it and help settle the soil.