In forehand strokes with different grips in tennis, the forearm muscle activities, the distribution and attenuation of the impact loads, and the effects of the muscles on the impact load attenuation exhibited different characteristics. This study aimed to explore these characteristics by analyzing electromyography (EMG) and acceleration data, and comparing the differences between the Eastern and Western grips. Fourteen level II or above tennis players (ten males, aged 22.4 ± 3.6 years; four females, aged 19.8 ± 2.0 years) were recruited and instructed to perform forehand strokes using the Eastern and Western grips, respectively. The EMG of eight forearm muscles and the acceleration data at the ulnar and radial sides of the wrist and elbow were collected. The root mean square (RMS), the peaks of the impact load, the amplitude of impact load attenuation (AC), and the jerk value (Jerk) were calculated. The cross-correlation coefficients and time delays of EMG–EMG, EMG–AC, and EMG–jerk were obtained using the cross-correlation method. The results showed that in the Eastern grip group (group E), the RMS of the flexor carpi ulnaris (FCU) was significantly greater than that in the Western grip group (group W). In group E, the peaks of impact load, AC, and Jerk on the Y axis of the wrist ulnar side were all significantly higher than those in group W. The activity of the extensor digitorum commonis (EDC) had significantly different effects on the amplitude and rate of impact load attenuation at specific locations in different grips, especially at the elbow (p < 0.05). The conclusion indicated that the FCU exhibited higher levels of EMG activity in the Eastern grip. This grip responded to greater impact loads with more substantial and rapid attenuation on the wrist ulnar side. Furthermore, the EDC appeared to contribute more to the amplitude of impact load attenuation in the Western grip and to have a more significant influence on the rate of impact load attenuation in the Eastern grip, especially at the elbow. These results suggest that tennis players and coaches should pay more attention to improving the strength of the EDC and FCU, which can improve sports performance and comfort, as well as prevent sports injuries.