In this paper, we propose a finite-time model reference adaptive controller to attenuate the recoil response of deepwater drilling riser systems following an emergency disconnection. Firstly, a coupled model that characterizes the recoil movements of the riser, wave-excited heave motion, and the frictional resistance due to drilling fluid discharge is developed. Secondly, an adaptive control law is presented, with a portion of the adaptive gain determined through linear matrix inequalities. Thirdly, the stability criteria and updating rules that ensure finite settling time for the recoil control system is established. Then, the effectiveness and robustness of the controller against nonlinear systematic perturbations are verified. It is worth pointing out that: (1) The proposed adaptive controller significantly attenuates the recoil responses of the riser in finite time. (2) Compared to other controllers, the finite-time adaptive controller provides faster convergence for both error states and adaptive gains. (3) Perturbation cases involving nonlinear and unmodeled dynamics are examined, demonstrating the controller’s effectiveness and robustness, which ensures the safety of the drilling riser system.