Plastic film mulching (PFM) affects the spatiotemporal distribution of soil moisture and temperature, which in turn affects cotton growth and the spatiotemporal distribution of canopy photosynthetically active radiation (PAR). Due to the spatial heterogeneity of soil moisture, temperature and limited monitoring methods, the issues such as relatively few sampling points and long sampling intervals in most existing studies prevent the accurate quantification of spatiotemporal changes in moisture and temperature along soil profile. To investigate the effects of PFM on spatiotemporal changes in soil moisture, temperature, and canopy PAR in cotton fields, two field trials of plastic film-mulched (M) and nonmulched (NM) cultivations were performed in 2018 and 2019. The grid method was used for the soil information continuous monitoring and multiple-time fixed-site canopy PAR monitoring during the duration of cotton growth. Two-year field trial data showed that, M cultivation increased soil moisture by approximately 13.6%–25% and increased temperature by 2–4 °C in the 0–50 cm soil layer before the first irrigation (June 20) and by 1–2 °C in the 70–110 cm soil layer, compared with NM cultivation. In addition, the temperature difference between the two treatments gradually decreased with the increase in irrigation and air temperature. The M treatment reached the peak PAR interception rate 10 days earlier than the NM treatment. In 2018 and 2019, the PAR peak value under the M treatment was 4.62% and 1.8% higher than that under the NM treatment, respectively, but the PAR interception rate was decreased rapidly in the late growth stage. Overall, PFM had an effect on soil moisture retention during the whole growth period and greatly increased the soil temperature before budding stage, thus promoted the early growth of cotton. Considering this, we suggest that the irrigation quota and frequency could be appropriately decreased in the case of plastic film mulching cultivation. For nonmulching cultivation, the irrigation quota and frequency should be increased, and it is necessary to take measures to improve the soil temperature before middle July.