Mastering the spatial distribution of water retention capacity and scientifically delineating the ecological space for water conservation are of great significance to the management of regional land and water resources. In this paper, a water conservation ecological spatial delimitation framework suitable for water-deficient areas was put forward. The water retention capacity of the study area in 1983, 1990, 2000, 2010, and 2016 was evaluated by using the InVEST Water Yield model and water balance method, respectively. On this basis, a flexible inflection point model based on the contribution degree of functional units was established. Then the ecological space for water conservation was delimited. The framework was applied to the delimitation of the key water conservation areas in Jilin province, China. The results showed that: (1) the spatial distribution pattern of water conservation in Jilin province gradually decreased from east to west. The spatial difference was significant. The maximum value of water conservation in Jilin province was 730 mm. From 1983 to 2016, water conservation, which accounted for 75.71% of the area, showed an upward trend. The overall water retention capacity showed the characteristics of the overall increase and the local decline. (2) From the absolute amount of the effect of unit area change on water conservation, the intensity from the high to the low was forestland, cultivated land, grassland, unused land, buildings, and water. (3) The area of water conservation less than 474 mm accounted for more than 80% of the total study area. The overall water retention capacity was low. High importance ecological space area of water conservation was comprehensively defined as 36.97%, which was mainly distributed in the natural forest area of Changbai Mountain in the east and the south of Song Liao Plain. Therefore, this study provided a basic layout of relatively concentrated ecological spatial distribution for water conservation types at different levels in Jilin province. The study results and conclusions of this paper will provide a reference for water conservation assessment and the regional land’s natural resources management.