The time-varying gravity field models derived from the Gravity Recovery and Climate Experiment (GRACE) satellite mission suffer from pronounced longitudinal stripe errors in the spatial domain. A potential way to mitigate such errors is to combine GRACE data with observations from other sources. In this study, we investigate the impacts on GRACE monthly gravity field solutions of incorporating the GPS data collected by the Gravity Field and Steady-State Ocean Circulation Explorer (GOCE) mission. To that end, we produce GRACE/GOCE combined monthly gravity field solutions through combination on the normal equation level and compare them with the GRACE-only solutions, for which we have considered the state-of-the-art ITSG-Grace2018 solutions. Analysis in the spectral domain reveals that the combined solutions have a notably lower noise level beyond degree 30, with cumulative errors up to degree 96 being reduced by 31%. A comparison of the formal errors reveals that the addition of GOCE GPS data mainly improves (near-) sectorial coefficients and resonant orders, which cannot be well determined by GRACE alone. In the spatial domain, we also observe a significant reduction by at least 30% in the noise of recovered mass changes after incorporating the GOCE GPS data. Furthermore, the signal-to-noise ratios of mass changes over 180 large river basins were improved by 8–20% (dependent on the applied Gaussian filter radius). These results demonstrate that the GOCE GPS data can augment the GRACE monthly gravity field solutions and support a future GOCE-type mission for tracking more accurate time-varying gravity fields.