The research aimed to investigate the suitable drinking water temperature in winter and its effect on the growth performance, antioxidant capacity, and rumen fermentation function of beef cattle. A total of 40 beef cattle (640 ± 19.2 kg) were randomly divided into five treatments with eight cattle in each treatment raised in one pen according to initial body weight. Each treatment differed only in the temperature of drinking water, including the room-temperature water and four different heat water groups named RTW, HW_1, HW_2, HW_3, and HW_4. The measured water temperatures were 4.39 ± 2.546 °C, 10.6 ± 1.29 °C, 18.6 ± 1.52 °C, 26.3 ± 1.70 °C, and 32.5 ± 2.62 °C, respectively. The average daily gain (ADG) showed a significant linear increase during d 0 to 60 and a quadratic increase during d 31 to 60 with rising water temperature (p < 0.05), and the highest ADG of 1.1911 kg/d was calculated at a water temperature of 23.98 °C (R2 = 0.898). The average rectal temperature on d 30 (p = 0.01) and neutral detergent fiber digestibility (p < 0.01) increased linearly with increasing water temperature. Additionally, HW_2 reduced serum triiodothyronine, thyroxine, and malondialdehyde (p < 0.05), and increased serum total antioxidant capacity (p < 0.05) compared with RTW. Compared with HW_2, RTW had unfavorable effects on ruminal propionate, total volatile fatty acids, and cellulase concentrations (p < 0.05), and lower relative mRNA expression levels of claudin-4 (p < 0.01), occludin (p = 0.02), and zonula occludens-1 (p = 0.01) in the ruminal epithelium. Furthermore, RTW had a higher abundance of Prevotella (p = 0.04), Succinivibrionaceae_UCG-002 (p = 0.03), and Lachnospiraceae_UCG-004 (p = 0.03), and a lower abundance of Bifidobacteriaceae (p < 0.01) and Marinilabiliaceae (p = 0.05) in rumen compared to HW_2. Taken together, heated drinking water in cold climates could positively impact the growth performance, nutrient digestibility, antioxidant capacity, and rumen fermentation function of beef cattle. The optimal water temperature for maximizing ADG was calculated to be 23.98 °C under our conditions. Ruminal propionate and its producing bacteria including Prevotella, Succinivibrionaceae, and Lachnospiraceae might be important regulators of rumen fermentation of beef cattle drinking RTW under cold conditions.