Forming an important component of water conservation infrastructure, canal concrete linings are often subjected to damage to different degrees under the combined action of many factors (temperature, stress, water load, etc.) during construction or later operation. Here we explore the temperature and stress changes in the lining plate under different temperatures and water loads and determine the most unfavorable position (where the stress is more concentrated or the stress value is the largest) of the whole canal lining plate to provide guidance for the subsequent design, construction, and maintenance of canal linings. This paper takes a large irrigation district canal lining project in Henan Province, China as an example and uses ABAQUS finite element software to simulate the temperature and stress fields of the canal concrete lining plate under the combined actions of temperature, stress and water load. The results show that under both conditions of no water or water load, the temperature distribution is more uniform in the middle area of the canal bottom slab, and the temperature of the sunny side slope is higher than that of the shady side slope. The stress values of the lining plate and the bottom plate at the slope foot of the canal are large. Under the action of water load, the maximum stress of the right slope foot of the canal concrete lining plate reaches 2.38 MPa. Furthermore, the validity of the model is verified by comparing the error values, and parameters such as the elastic modulus and Poisson’s ratio were found to have a large influence on the sensitivity of the model. The results can be used as a reference for further research on canal concrete lining construction quality control.