Atmospheric correction (AC) is the basis for quantitative water remote sensing, and adjacency effects form an important part of AC for medium- and high-spatial-resolution optical satellite images. The 6S radiative transfer model is widely used, but its background reflectance function does not take the radiance changes at water–land boundaries into account. If the observed land possesses bright features, the radiance of the adjacent water will be affected, leading to deviations in the AC results and increasing the uncertainty of water depth-based optical quantitative remote sensing. In this paper, we propose a model named WL-AE (a correction model for water–land boundary adjacency effects), which is based on the obvious radiance differences at water–land boundaries. This model overcomes the problem by which the background reflectance calculation is not terminated due to the highlighting pixel. We consider the influences of different Rns (neighborhood space) on the target pixel. The effective calculation of the equivalent background reflectance of the target pixel is realized, and the influence of the land area anomaly highlighting the pixel on the adjacent water is avoided. The results show that WL-AE can effectively improve the entropy and contrast of the input image and that the water–land boundary is greatly affected by adjacency effects, especially in the green and near-infrared bands, where the Mrc (mean rate of change) are as high as 14.2% and 20.1%, respectively. In the visible wavelength, the Sd of Rrc (the relative rate of change) is positively correlated with Rns, and the Sd reaches 16.9%. Although the adjacency effect is affected by ground object types, its influence area remains within 3 km offshore. Based on the WL-AE and 6S results, the comparative test regarding bathymetric inversion shows that the influence is significant in the 0–5 m depth section. In Penang, the MRE of the 0–4 m inversion results is 31.4%, which is 10.5% lower than that of the 6S model.