The precipitation partitioning between evapotranspiration (ET) and runoff (R) at the land surface is controlled by atmospheric boundary layer and terrestrial hydrological processes. These processes in land surface models are manifested primarily as stomatal conductance, soil moisture limitation factor to transpiration (β‐factor), turbulence, and runoff generation. What are the sensitivities of precipitation partitioning to the parameterizations of these processes? To address this overarching question, the annual and seasonal means of ET and R over the conterminous United States were simulated using 48 configurations of the Noah land surface model with multiparameterization options (Noah‐MP). The Sobol' total sensitive index was used to quantify the sensitivity of ET and R to the parameterizations of the four processes mentioned above. Results show that the sensitivities of the annual means depend on climatic conditions and the interplay between ET and R plays an important role. In humid regions, precipitation is mostly partitioned into R, whereas the simulations can be more sensitive to ET's parameterizations. In arid regions, ET accounts for the major partition, whereas the simulations can be more sensitive to the runoff parameterization. Seasonal means exhibit different sensitivities from the annual means. The seasonal mean ET is more sensitive to ET's parameterizations, and R is more sensitive to the runoff parameterization. The β‐factor, which is neglectable for the annual means, is important for summer‐time ET. Mediated by the terrestrial water storage memories, ET interplays R across seasons. The winter‐time R is still sensitive to the stomatal conductance that only modulates growing‐season ET.