The adaptability of bermudagrass genotypes to high-pH saline–alkali conditions was investigated through a comprehensive evaluation of 38 genotypes during the seedling stage. For this purpose, two distinct treatments were established: exposure to saline–alkali solution composed of 45% NaCl, 5% Na2SO4, 5% NaHCO3, and 45% Na2CO3 (pH 10.0), and exposure to distilled water as control. On 6th day of treatment, eight physiological indicators were measured. Compared with the control, the net photosynthetic rates, leaf water content, and chlorophyll content of the test genotypes decreased under stress. In contrast, the soluble protein content, proline levels, malondialdehyde concentration, and conductivity exhibited an increase. The salt–alkali tolerance coefficients of each indicator ranged from 0.24 to 8.54, and the variable coefficient was from 9.77% to 62.82%. Based on the salt–alkali tolerance coefficients, the comprehensive evaluation value (D) and resistance coefficient (CSAC) for each genotype were calculated. Subsequently, 38 genotypes were classified into three salt–alkali tolerance clusters by hierarchical clustering analysis, with Cluster I consisting of 10 genotypes with the most salt–alkali tolerance, and Cluster II with intermediate tolerance. Cluster III was comprised of 18 genotypes showing the lowest tolerance. The predictive model for assessing salt–alkali tolerance in bermudagrass is (D) = −0.238 + 0.106 × SACChlb + 0.209 × SACRWC + 0.015 × SACPro + 0.284 × SACProtein + 0.051 × SACPn. Notably, Cluster I genotypes were more vigorous and showed lower damage under saline stress compared to Cluster III. Moreover, stepwise regression analysis pinpointed Chlb, RWC, and Pro as crucial indicators for evaluating salt–alkali tolerance in bermudagrass genotypes.