China's Losses Plateau (LP) is one of the ecologically vulnerable and the most severe soil erosion regions. Thus, knowing spatiotemporal changes in evapotranspiration (ET) and its components (soil evaporation, E; transpiration, T; and vegetation interception evaporation, EI) and revealing the underlying mechanisms are vital for ecosystem and water resources sustainability for this region. Here, we investigate the spatiotemporal changes in ET and its components and then quantify the impacts of climate variables (i.e., precipitation, radiation, temperature, and relative humidity) and vegetation dynamics (e.g., land use/cover changes [LUCC] and changes in leaf area index [LAI]) on their annual trends, by using a process‐based terrestrial ecosystem model and a joint‐solution method with multiple sensitivity numerical experiments. Results show that over 67% of the study region experienced significant (p < 0.05) increases in annual ET, T, and EI, with regional average rises of 4.05, 3.67, and 0.74 mm·year−1, respectively. However, there are significant (p < 0.05) decreases in regional mean E of 0.38 mm·year−1, and the negative trend covers 35.8% of the study area. E, T, and EI changes dominate the annual ET trends over 11.8%, 87.3%, and 0.9% of the study area, respectively. Attribution analyses highlight the increased LAI as the critical factor governing these trends across most of the LP (>58%). At the same time, precipitation and LUCC play a more dominant role in the remaining areas. This study emphasizes the spatial heterogeneity in the drivers of changes in ET and its components and highlights the critical role of vegetation dynamics. These findings provide valuable insights for understanding the ET processes and guiding sustainable water resource management in the LP.