The ability of plants to alter specific combinations of leaf traits during development and in response to abiotic stress is crucial for their success and survival. While there are numerous studies on the variation of leaf traits within the canopies of Populus species, the application of network analysis to understand the variation and combinations of these traits across different growth stages is rare. The leaves of Populus euphratica, a dominant species in arid regions, exhibit notable morphological variations at different developmental stages and canopy heights in response to water scarcity and climate change. In this study, 34 leaf traits (morphological, chemical, photosynthetic, and hydraulic) and their roles in drought adaptation were investigated in 60 Populus euphratica plants at five developmental stages and five canopy heights using leaf trait network (LTN) analysis. The aim was to analyze adaptive strategies to arid environments at different developmental stages and canopy heights through the interdependence of leaf traits. The results showed that the internal coordination capacity of leaf trait networks decreased and then increased with each developmental stage, while the functional modules of leaf trait networks were loosely connected and aggregated with the increase in tree diameter at breast height. With increasing canopy height, the coordination linkage’s ability between leaf traits showed an increasing then decreasing trend, and the traits of the leaves in the canopy at 6 m were more closely connected, less modular, and simpler in topology compared with those in the other layers. Leaves form functional modules by coordinating specific traits that promote growth and resist drought. Leaf photosynthesis, water transport, and nutrient traits were central to different developmental stages, whereas leaf morphology, nutrient metabolism, and drought-resistance-related traits were central to the canopy height. Leaf morphology and osmoregulatory traits play key roles in leaf trait network regulation, including leaf length and width, leaf shape index, soluble sugars, and soluble proteins, which are important “intermediary traits” in the Populus euphratica leaf network. Further analysis revealed that structural traits were important at different developmental stages and canopy heights. When resources are limited, the leaf preferentially maintains a stable connection between structural traits to enhance photosynthesis, and these traits and their combinations might confer drought resistance. During the rapid development stage, the connection between chemical traits becomes important, and the leaf grows by rapidly accumulating nutrients. In summary, this study provides new perspectives and insights into the drought adaptation strategies of P. euphratica at different developmental stages and canopy heights by analyzing leaf trait networks.