Global climate change presents a serious threat to the sustainable development of human society, highlighting the urgent need to develop effective adaptation strategies to mitigate the impact of climate-related disasters. Campus waterfront green spaces, integral to the blue-green infrastructure, have been demonstrated to facilitate stress recovery. However, in hot and humid regions, severe outdoor thermal conditions may impair students’ mental and physical health and cognitive function, leading to symptoms such as increased stress, anxiety, and depression. This study examined the influence of outdoor thermal environments on health recovery by selecting three different waterfront green spaces in this climate: Space A (medium water body, sky view factor (SVF) = 0.228), Space B (large water body, SVF = 0.808), and Space C (small water body, SVF = 0.292). The volunteers’ thermal comfort and the restorative benefits of these spaces were evaluated via the perceived restorativeness scale (PRS), heart rate (HR), and electrodermal activity (EDA). We found variations in the neutral physiological equivalent temperature (PET) across the spaces, with values of 28.1 °C (A), 28.9 °C (B), and 29.1 °C (C). The lowest skin conductance recovery rate (RSC) at 0.8811 was observed in Space B, suggesting suboptimal physiological recovery, despite higher scores in psychological recovery (fascination) at 15.23. The level of thermal comfort in this hot and humid region showed a negative correlation with the overall PRS score, the “being away” dimension, and heart rate recovery (RHR). At a lightly warm stress level, where PET increased from 31.0 to 35.7 °C, RSC peaked between 1.45 and 1.53 across all spaces. These insights provide guidance for urban designers and planners in creating waterfront green space designs that can improve the urban microclimate and promote thermal health, achieving sustainable health.