Mapping the distribution of bamboo species is vital for the sustainable management of bamboo and for assessing its ecological and socioeconomic value. However, the spectral similarity between bamboo species makes this work extremely challenging through remote sensing technology. Existing related studies rarely integrate multiple feature variables and consider how to quantify the main factors affecting classification. Therefore, feature variables, such as spectra, topography, texture, and vegetation indices, were used to construct the XGBoost model to identify bamboo species using the Zhuhai-1 Orbita hyperspectral (OHS) imagery in the Southern Sichuan Bamboo Sea and its surrounding areas in Sichuan Province, China. The random forest and Spearman’s rank correlation analysis were used to sort the main variables that affect classification accuracy and minimize the effects of multicollinearity among variables. The main findings were: (1) The XGBoost model achieved accurate and reliable classification results. The XGBoost model had a higher overall accuracy (80.6%), kappa coefficient (0.708), and mean F1-score (0.805) than the spectral angle mapper (SAM) method; (2) The optimal feature variables that were important and uncorrelated for classification accuracy included the blue band (B1, 464–468 nm), near-infrared band (B27, 861–871 nm), green band (B5, 534–539 nm), elevation, texture feature mean, green band (B4, 517–523 nm), and red edge band (B17, 711–720 nm); and (3) the XGBoost model based on the optimal feature variable selection showed good adaptability to land classification and had better classification performance. Moreover, the mean F1-score indicated that the model could well balance the user’s and producer’s accuracy. Additionally, our study demonstrated that OHS imagery has great potential for land cover classification and that combining multiple features to enhance classification is an approach worth exploring. Our study provides a methodological reference for the application of OHS images for plant species identification.