Southwestern China is a critical biodiversity hotspot area, and many large hydroelectric projects have been established in the valleys in the region. Tree growth in the valleys will be affected by both regional climate and reservoir impoundment. However, it remains unknown whether the radial growth of trees in the valleys has a common response pattern to the regional climate, and it is also unclear whether the response of radial growth to reservoir impoundment can be detected. In this study, we developed tree-ring width chronologies of Pinus yunnanensis Franch. collected at 11 sites with vertical and horizontal gradients to three hydroelectric reservoirs in three riverine valleys in southwestern China. We analyzed the radial growth responses to the regional climate from 1986 to 2017 by correlation with instrumental meteorological data. Tree growth responses to reservoir impoundment were investigated through spatial and temporal comparisons using the change in the Euclidean distance and difference test. We also distinguished their responses at tree-ring sites without influenced by reservoir impoundment including two sites in the valleys and seven sites at high elevations. The results showed that the climate conditions in May and the dry season before the growth season significantly limit the radial growth in the valleys, which is different to that at high-elevation areas in southwestern China. Growth variations in the valleys are related to elevations and the trees in similar slopes positions exhibit similar responses. For trees in the low slope positions, both variance and mean values of radial growth are affected by reservoir impoundment. Trees at relatively low sites (i.e., sites M2, R2, L2), rather than the trees close to the reservoirs (i.e., sites M1, R1, L1), respond more sensitively to reservoir impoundment.