Multiple lines of evidence confirm a widespread increase in vegetation growth across China over the past few decades. The relationship between vegetation growth and water availability is thought to be becoming stronger under climate change, that is, water constraints on vegetation growth have been increasing. However, our understanding of how water constraints have influenced these vegetation greening trends, especially those climate change‐driven ones, remains limited. Here, we conduct a comprehensive evaluation of recent water constraints and their implications for vegetation growth in China between 1982 and 2015. By analyzing the spatiotemporal patterns of the relationship between vegetation growth and water availability, we reveal recent water constraints and their changes hidden within an overall greening trend in China. Further analysis demonstrates that two climate change‐related categories, defined broadly as “climate” (e.g., air temperature, precipitation, and so on) and “CO2” (i.e., atmospheric carbon dioxide), have exerted varying levels of importance in regulating vegetation growth across different water constraints. With increasing water constraints, the proportion of the climate‐dominated area has significantly risen, while that of the CO2‐dominated area has sharply declined. Our findings highlight that water constraints can mediate the dominance of climate and atmospheric CO2 on vegetation growth. This has the great potential to exacerbate the uncertainty surrounding current and future sustainable vegetation greening trends.