A consensus has not yet been reached on effects of climate change and driving mechanisms between the Tibetan Plateau (TP) and adjacent monsoonal areas during the Marine Isotope Stage 3 (MIS 3). Loess–paleosol sequences from the TP provide valuable information about the MIS 3 environmental history. Detailed color index and a diffuse reflectance spectral (DRS) analysis of Zhouqu (ZQ) loess from the Western Qinling Mountains were conducted to investigate climate change on the eastern margin of the TP during the MIS 3. Our results show that the variations in color index and iron oxide content in ZQ loess are mainly caused by the pedogenesis and climate conditions. The lightness (L*) value and hematite (Hm) content were used to reconstruct the precipitation history and temperature changes, respectively. The reconstructed records revealed that climate change during the MIS 3 was characterized by high frequency and large amplitude, with millennial-scale changes superimposed on orbital-scale changes. Warm–humid climate occurred in the late MIS 3, while the early climate of MIS 3 was relatively cold–dry. The Indian summer monsoon (ISM) and temperature variations during the MIS 3 mainly occurred due to obliquity and precession. The North Atlantic cooling led to the southward movement of the Intertropical Convergence Zone, and the downstream cooling of the atmosphere by the westerly jet could result in events on a millennial-scale in the eastern margin of the TP. The interhemispheric forcing may play an important role in driving the strong summer monsoon in the late MIS 3.