Based on Microwave Radiometer (MWR) observations in Wuhan over the course of 21 months, we compared the temperature and water vapor levels with those from radiosonde (RS) sounding data at 00:00 and 12:00 UTC, and then analyzed the seasonal and diurnal changes of temperature and water vapor levels from the MWR data. The MWR and RS mean temperatures and dew points are roughly consistent with each other below 2 km, whereas above 2 km, the MWR temperature is slightly lower than the RS temperature. The difference in their water vapor densities decreases quickly with height, and the bias of their relative humidities is generally in the range of −15% to 20%. The MWR observations show that in autumn, the surface temperature is 6.8 K lower during precipitation events than during non-precipitation events, indicating that precipitation in autumn is mainly caused by cold air from the north. The relative humidity during precipitation events exceeds 90% from the ground to 5 km, which is obviously larger than during non-precipitation events. During non-precipitation events, the seasonal mean water vapor density at 0–1.0 km shows an approximately linear increase with the mean temperature; however, their diurnal changes are opposite due to the effect of the boundary layer. At 4.5–5.5 km and 8.5–9.5 km, the mean temperature shows a synchronized diurnal evolution, with the maximum value prior to that at 0–1.0 km, indicating the strong influence of the air–land interaction on the temperature near the ground. Hence, this study is helpful for deepening our understanding of temperature and humidity variabilities over Wuhan.