Landfast ice has undergone a dramatic decline in recent decades, imposing potential effects on ice travel for coastal populations, habitats for marine biota, and ice use for industries. The mapping of landfast ice deformation and the investigation of corresponding causes of changes are urgent tasks that can provide substantial data to support the maintenance of the stability of the Arctic ecosystem and the development of human activities on ice. This work aims to investigate the time-series deformation characteristics of landfast ice at multi-year scales and the corresponding influence factors. For the landfast ice deformation monitoring technique, we first combined the small baseline subset approach with ascending and descending Sentinel-1 images to obtain the line-of-sight deformations for two flight directions, and then we derived the 2D deformation fields comprising the vertical and horizontal directions for the corresponding periods by introducing a transform model. The vertical deformation results were mostly within the interval [−65, 23] cm, while the horizontal displacement was largely within the range of [−26, 78] cm. Moreover, the magnitude of deformation observed in 2019 was evidently greater than those in 2020 and 2021. In accordance with the available data, we speculate that the westerly wind and eastward-flowing ocean currents are the dominant reasons for the variation in the horizontal direction in Cambridge Bay, while the factors causing spatial differences in the vertical direction are the sea-level tilt and ice growth. For the interannual variation, the leading cause is the difference in sea-level tilt. These results can assist in predicting the future deformation of landfast ice and provide a reference for on-ice activities.