In order to study the effect of a plastic membrane and geotextile cloth mulching on soil moisture and crop growth in the loess–hilly region, a one-year continuous field monitoring experiment was carried out in Ansai District, City of Yan’an, Shaanxi Province, China. The experimentation included three treatments: plastic membrane and geotextile cloth mulching on the ridge (MB), geotextile cloth mulching on the ridge (DB), and bare soil ridge (CK). Soil moisture and water potential sensors were installed to monitor the changes in soil moisture content and water potential at 5, 15, and 30 cm below the furrow surface and meteorological data above the soil surface, and the growth traits, yield, and quality of maize were analyzed. The results showed the following: (1) The soil water-storage capacity of the three treatments dropped to a minimum in the filling stage and gradually recovered in the mature stage. The average water-storage capacity for the MB treatment was 35.5% higher than that for the DB treatment and 85.1% higher than that for the CK treatment, significant throughout the whole growth period. (2) For four types of rainfall events, namely, light, medium, heavy, and storm rainfall, significant responses were observed at 5 cm below the ground for three treatments, and the fastest response was in MB due to its best rain-collection effect. A significant response was also observed at 15 and 30 cm below the surface of the furrow during medium, heavy, and storm rainfall, while no significant difference in response time was found between the three treatments due to the restriction of the soil infiltration capacity. (3) The differences between the three treatments in the agronomic traits of maize, except for plant height and stem thickness, were insignificant (p < 0.05). The seed moisture content and yield for the MB treatment were the highest, with values of 40.33% and 8366 kg/hm2, respectively, followed closely by the DB treatment, with values of 38.61% and 7780 kg/hm2, respectively, and the smallest values were observed in the CK treatment, with values of 35.80% and 6897 kg/hm2, respectively. Compared with those for the CK treatment, the average starch content and the average lipid content for the mulching treatments (MB, DB) decreased by 13.40% and 17.11%, respectively, while the average protein content of maize increased by 7.86%. Overall, a plastic membrane and geotextile cloth mulching could significantly increase soil moisture and spring maize yield due to their better rain-collection effect.