The spatiotemporal evolution characteristics of water yield and carbon storage in Ordos City from 2010 to 2022 were analyzed using the InVEST model. The geographically and temporally weighted regression (GTWR) model and spatial autocorrelation analysis were used to investigate the spatial clustering characteristics of influencing factors and the spatial heterogeneity between water yield and carbon storage. The results show that the mean Moran’s index of water yield and carbon storage was 0.351, exhibiting high water yield-high carbon storage and low water yield-low carbon storage clustering patterns. The multi-year average water yield was 2.796 5 billion m³ with significant interannual fluctuations, and it was primarily influenced by land use type, evapotranspiration, and carbon storage. Carbon storage showed an increasing trend, rising from 1.156 6 billion tons in 2010 to 1.194 9 billion tons in 2022, and was mainly affected by land use type and water yield.