This work investigated the effects of moisture absorption treatment on composite-to-metal double-lap shear joints (DLSJs) bonded with epoxy adhesive film through experiments and simulations. The composite-to-metal DLSJ can be divided into five parts (the interface between the composite and adhesive, the interface between the adhesive and metal, the composite adherend, the metal adherend, and the adhesive layer). First, the wet-dependent properties of the adhesive and interfaces were obtained through adhesive tensile tests and GC tests, which showed that the properties of the adhesive and interfaces were significantly affected by the moist environment. Then, tensile tests of the composite-to-metal double-lap shear joints were carried out in dry and wet environments. Finally, based on the experimental investigations, a finite element (FE) model that considered cohesive damage was established for simulating damage evolution and predicting the failure loads and failure modes of the DLSJs. The results of both the experimental and numerical tests show that the DLSJ failure load decreases significantly after immersion in 95 °C water, and the major failure mode transfers from adhesive failure to interface failure. The research results provide a theoretical basis or basic data for the structural design of adhesively bonded composite-to-metal.