Tea plantations have expanded rapidly during the past several decades in China, the top tea-producing country, as a result of economic development; however, few studies have investigated the influence of tea plantations on the carbon cycle, especially from the perspective of climate change and increases in extreme weather events. Therefore, we employed combined observational and modeling methods to evaluate the water and carbon cycles at representative bamboo and tea plots in eastern China. Green tea growth and the corresponding water and carbon cycles were reproduced using the Community Land Model after applying fertilizer. Old-growth bamboo was reasonably simulated as broadleaf evergreen forest in this model. The mean observed soil respiration ranged from 1.79 to 2.57 and 1.34 to 1.50 µmol m−2 s−1 at the bamboo and tea sites, respectively, from April 2016 to October 2017. The observed soil respiration decreased by 23% and 55% due to extreme dryness in August 2016 at the bamboo and tea plots, respectively, and the model reproduced these decreases well. The modeling results indicated that tea acted as a stronger carbon sink during spring and a stronger carbon source during autumn and winter compared with old-growth bamboo. The carbon cycle was affected more by extremely dry weather than by extremely wet weather in both the bamboo and tea plots. Extremely dry periods markedly reduced the carbon sink at both plots, although this trend was more pronounced at the tea plot.