Water conservation services are key indicators of ecological services. Against the backdrop of frequent extreme weather events and water scarcity caused by global climate change and intensified human activities, assessing these services and their drivers are crucial tasks for regional ecological security and sustainable development. Jiangxi Province is one of the first national ecological civilization pilot zones in China, representing an important ecological barrier in southern China. Exploring the characteristics of spatial and temporal changes in water conservation and their driving factors can facilitate the rational development and utilization of regional water resources and the construction of ecological civilizations. Therefore, based on long time series data, the InVEST model was used to explore the spatiotemporal evolution characteristics of water conservation services, and to elucidate the trend of their change through the Theil–Sen median trend analysis and the Mann–Kendall test; then, the geographic detector and geographically weighted regression model were used to further analyze the drivers of spatial variability of water conservation services. The results showed the following: (1) The average depth of water conservation was 103.18 mm, showing a spatial pattern of “low in the middle, high in the surroundings, high in the north and low in the south”. (2) Slight improvements were primarily observed (77.49%), with only 1.60% of the area showing significant improvements. (3) Land use was the main driver of the spatial differentiation, and the interaction between precipitation and forestland had a significantly greater effect on spatial heterogeneity than any single factor. (4) Obvious spatial heterogeneity occurred in the driving factor impacts, with natural factors (precipitation, evapotranspiration, forestland, and grassland) having a positive impact on water conservation services, and land-use factors (construction land and cropland) and socioeconomic factors (population density and land area) having a negative effect. This study provides a reference for water-conservation-based ecosystem construction and policy formulation in Jiangxi Province.