The variation in the radiation budget at Earth’s top of the atmosphere (TOA) represents the most fundamental metric defining the status of global climate change. The accurate estimation of Earth’s shortwave radiant exitance is of critical importance to study Earth’s radiation budget (ERB) at TOA. Measuring Earth’s outgoing shortwave radiance (OSR) is a key point to estimate Earth’s shortwave radiant exitance. Compared with space-borne satellite systems, Moon-based sensors (MS) could provide large-scale, continuous, and long-term data for Earth radiation observations, bringing a new perspective on ERB. However, the factors affecting the estimation of Earth’s OSR in the lunar direction have not yet been fully explored, for example, anisotropic surface reflection and the effects of clouds and aerosols on radiation budget. In this work, we only focused on the influence of anisotropic surface reflection. To evaluate the extent of this influence, we constructed a model to estimate Earth’s OSR in the lunar direction (EOSRiLD), integrating the variables of anisotropic surface reflection (scene types, solar zenith angles, viewing zenith angles, and relative azimuth angles) and radiant flux in Moon-viewed sunlit regions. Then, we discussed it over three time periods (Earth’s rotation, revolution period, and synodic month cycle) and analyzed the impact of three variables (area of the Moon-viewed sunlit region, scene types, and incident-viewing angular bins) on anisotropic EOSRiLD. Our results indicate that EOSRiLD based on the assumptions of anisotropic and isotropic reflection is different but they all show the same monthly cycle change, which is related to the area of the Moon-viewed sunlit region. At the beginning and end of the lunar month, the differences between anisotropy and isotropy are greatest in each cycle; when it is close to the first half of each cycle, there is a small difference peak. Both anisotropy and isotropy are caused by the relative azimuth angles between the Sun and Moon. In conclusion, even if the Moon-based platform has a wider scope than space-borne satellites, the difference is still large between anisotropy and isotropy. Therefore, we still need to consider the anisotropic surface reflection based on the Moon-based observation.