A chute aerator is a device that entrains air into water and protects against cavitation erosion. The state of the jet cavity determines the aerator efficiency under different flow conditions. In the case of a low Froude number and low velocity, backwater is generated in the jet cavity. In severe cases, this backwater blocks the air intake holes and affects air intake efficiency. With the development and construction of water conservancy projects, an increasing number of dams have been constructed at altitudes above 3000 m. The influence of cavity backwater depth at reduced atmospheric pressures is unknown and may increase the risk of high-speed aerated flows in high-altitude areas. In this study, the relevant parameters of backwater were measured at various atmospheric pressures, including the jet length, cavity subpressure, backwater depth, and net cavity length. The pressure difference of atmospheric pressure can range from 0 to 94 kPa. The test results indicate that a decrease in atmospheric pressure causes variations in the cavity subpressure. The absolute value of the difference between the inside and outside of the cavity decreases with a decrease in atmospheric pressure. An empirical formula for calculating the subpressure at different atmospheric pressures is proposed for PN < 0.1. The air velocity in the ventilation shaft decreases with a decrease in atmospheric pressure. The effects of variation in the atmospheric pressure on jet length can be ignored because the variation in jet length with different atmospheric pressures was constant. Additionally, the influence of varying atmospheric pressure on the cavity backwater is evident. The backwater depth decreases with a decrease in atmospheric pressure. When the atmospheric pressure decreases from 96 to 6 kPa, the maximum reduction in backwater depth is over 50%. Atmospheric pressure is a parameter that affects cavity backwater. Based on the measured backwater depth data, an empirical formula for calculating the backwater depth at different atmospheric pressures is proposed. This indicates a relationship between the atmospheric pressure and backwater depth under different flow conditions. It was further found that the bottom cavity may require a larger air intake volume at low atmospheric pressures and that it is necessary to optimize the aerator and the ventilation system.