The instability of the river channels has increased in response to the combined effects of global warming and human activity. This instability threatens the lives and property of people who live along river courses. This study takes the Pingluo section of the upper Yellow River, which is ~28 km long and ~400 m wide, as its research focus. We studied 11 periods of Landsat remote sensing images from 1973 to 2023 and analyzed the evolutionary characteristics of the Pingluo section over the past 50 years. The channel morphology indices included the channel braiding index (BIT), the bar braiding index (BIB), the average area of the bar (Ab), and the width of the wet channel area (BW). The results showed that there was an overall shrinking trend in this section of the Yellow River; more particularly, fluctuations in indicators such as the river width and the braiding index highlighted an increasing–decreasing–increasing pattern of change. During the 1973–1986 period, the river showed a widening trend, with narrow anabranches cutting through the floodplain and both the river width and the braiding index increasing dramatically over a short period. Over the 1986–2018 period, the area of the wet channel continued to shrink to its lowest level for the past 50 years, the river’s branches were diverted and abandoned, and the channel tended to straighten out. Between 2018 and 2023, the river showed a slightly expanding trend. The evolution of the river channel appears to be related to regional human activity and climate change. For example, after the joint filling of the Longyangxia and Liujiaxia reservoirs in the upper reaches of the Pingluo section of the Yellow River in 1986, runoff and sediment load along this section decreased, flood events became less frequent, and the channel tended to contract. In addition, the increase in extreme precipitation events over the last five years has led to an increase in the magnitude and frequency of peak discharge values in the region, which is the main reason for the increase in the river braiding index and area.