Hydropower units undertake tasks such as peak shaving, frequency modulation, and providing accident reserves in the power system. With the increasing capacity and structural complexity of power systems, hydropower units have become more important. Hydraulic-turbine-governing systems (HTGSs) need to have higher control performance and automation levels to meet the higher regulatory requirements of the power system. To achieve high-quality control, we proposed a new finite-time, fault-tolerant control method for HTGSs with an actuator fault. First, a fractional-order model for HTGSs with uncertainty, external disturbance, and an actuator fault was introduced. Second, a fault estimator that could quickly track the fault signal for an actuator fault was proposed. Then, based on the fractional-order finite-time stability theorem, a finite-time, fault-tolerant controller was proposed for the stabilization of an HTGS. Furthermore, a controller was developed as a fractional differential form combined with a smooth bounded arctangent function to effectively suppress jitters and uncertainties. Finally, numerical experimental results verified the validity and robustness of the proposed scheme.