This study analysed the temporal and spatial changes in the water yield coefficient (WYC), which represents the ratio of the gross amount of water resources to precipitation. Factors such as precipitation, rainstorm days, rainless days, vegetation cover change, and land use/cover change were considered to determine the causes of these changes. The results led to the following conclusions: (1) The average annual WYC of the Huang-Huai-Hai River Basin is between 0.03 and 0.58, with an average value of 0.17, which is smaller than the national average WYC of 0.4. (2) Temporally, the WYC varied slightly, with the western part showing a negative trend and the eastern part showing a positive trend. The WYC is positively correlated with precipitation, rainstorm days, and the normalized difference vegetation index (NDVI) and negatively correlated with rainless days. However, a slower change in NDVI produced a faster change in WYC. In areas with land use types exhibiting a large evapotranspiration decrease, the rate of change in the WYC increased. (3) Spatially, the distribution is fairly regular, exhibiting a gradual increase from the northern part of the Yellow River Basin (WYC < 0.1) to the surrounding areas. When the WYC is correlated with precipitation, rainstorm days, rainless days, and NDVI, the R2 values of the linear fitting results are 0.98, 0.91, 0.96, and 0.73, respectively. The WYC is positively correlated with precipitation, rainstorm days, and vegetation coverage and negatively correlated with rainless days, but the correlation coefficient is greatly influenced by the precipitation characteristics and land use types. In areas featuring high proportions of land use types associated with high evapotranspiration, the average WYC is low.