The accuracy and reliability of soil moisture retrieval based on Global Positioning System (GPS) single-star Signal-to-Noise Ratio (SNR) data is low due to the influence of spatial and temporal differences of different satellites. Therefore, this paper proposes a Random Forest (RF)-based multi-satellite data fusion Global Navigation Satellite System Interferometric Reflectometry (GNSS-IR) soil moisture retrieval method, which utilizes the RF Model’s Mean Decrease Impurity (MDI) algorithm to adaptively assign arc weights to fuse all available satellite data to obtain accurate retrieval results. Subsequently, the effectiveness of the proposed method was validated using GPS data from the Plate Boundary Observatory (PBO) network sites P041 and P037, as well as data collected in Lamasquere, France. A Support Vector Machine model (SVM), Radial Basis Function (RBF) neural network model, and Convolutional Neural Network model (CNN) are introduced for the comparison of accuracy. The results indicated that the proposed method had the best retrieval performance, with Root Mean Square Error (RMSE) values of 0.032, 0.028, and 0.003 cm3/cm3, Mean Absolute Error (MAE) values of 0.025, 0.022, and 0.002 cm3/cm3, and correlation coefficients (R) of 0.94, 0.95, and 0.98, respectively, at the three sites. Therefore, the proposed soil moisture retrieval model demonstrates strong robustness and generalization capabilities, providing a reference for achieving high-precision, real-time monitoring of soil moisture.