Reservoirs are an important source of methane (CH4) emissions, but the relative contribution of CH4 ebullition and diffusion fluxes to total fluxes has received little attention in the past. In this study, we systematically monitored the CH4 fluxes of nine cascade reservoirs (Dahejia, Jishixia, Huangfeng, Suzhi, Kangyang, Zhiganglaka, Lijiaxia, Nina, and Longyangxia) in the upper reaches of the Yellow River in the dry (May 2023) and wet seasons (August 2023) using the static chamber gas chromatography and headspace equilibrium methods. We also simultaneously measured environmental physicochemical properties as well as the abundance of methanogens and methanotrophs in sediments. The results showed the following: (1) All reservoirs were sources of CH4 emissions, with an average diffusion flux of 0.08 ± 0.05 mg m−2 h−1 and ebullition flux of 0.38 ± 0.41 mg m−2 h−1. Ebullition flux accounted for 78.01 ± 7.85% of total flux. (2) Spatially, both CH4 diffusion and ebullition fluxes increased from upstream to downstream. Temporally, CH4 diffusion flux in the wet season (0.09 ± 0.06 mg m−2 h−1) was slightly higher than that in the dry season (0.08 ± 0.04 mg m−2 h−1), but CH4 ebullition flux in the dry season (0.38 ± 0.48 mg m−2 h−1) was higher than that in the wet season (0.32 ± 0.2 mg m−2 h−1). (3) qPCR showed that methanogens (mcrA gene) were more abundant in the wet season (5.43 ± 3.94 × 105 copies g−1) than that in the dry season (3.74 ± 1.34 × 105 copies g−1). Methanotrophs (pmoA gene) also showed a similar trend with more abundance found in the wet season (7 ± 2.61 × 105 copies g−1) than in the dry season (1.47 ± 0.92 × 105 copies g−1. (4) Structural equation modeling revealed that the ratio of mcrA/pmoA genes, water N/P, and reservoir age were key factors affecting CH4 ebullition flux. Variation partitioning further indicated that the ratio of mcrA/pmoA genes was the main factor causing the spatial variation in CH4 ebullition flux, explaining 35.69% of its variation. This study not only reveals the characteristics and influencing factors of CH4 emissions from cascade reservoirs on the Qinghai Plateau but also provides a scientific basis for calculating fluxes and developing global CH4 reduction strategies for reservoirs.