A better understanding of the effects of land use change and climate change on water yield is highly important for water resource planning and sustainable management. Land use changes in Shandong Province were analyzed over recent years. The PLUS Model was applied to forecast the land use layout for 2032, with adjustments made based on actual conditions and utilizing various CMIP6 scenarios for precipitation and actual evapotranspiration. The 2032 Water Yield was quantified using the InVEST Model at both grid and administrative scales, and its temporal-spatial characteristics and spatial correlation were analyzed. The findings revealed several key points: first, a decrease of 16.92% in arable land area, along with diminishing trends in grassland and unused land, and an increase of 33.92% in built-up land area, accompanied by growth in forest and water area. Second, the water yield decreases from southeast to northwest in Shandong Province, with significant inter-annual variations. Third, future predictions suggest that the annual water yield generally increases during flat water years, with offshore areas exhibiting greater water yield depth compared to inland areas. Rizhao is projected to have the highest water yield depth, while Binzhou and Dongying are expected to have the lowest depths, with a spatially positive correlation between them.