The quantitative assessment of the impact of vegetation restoration on evapotranspiration and its components is of great significance in developing sustainable ecological restoration strategies for water resources in a given region. In this study, we used the Priestley-Taylor Jet Pro-pulsion Laboratory (PT-JPL) to simulate the ET components in the Helong section (HLS) of the Yellow River basin. The effects of vegetation restoration on ET and its components, vegetation transpiration (Et), soil evaporation (Es), and canopy interception evaporation (Ei) were separated by manipulating model variables. Our findings are as follows: (1) The simulation results are compared with the ET calculated by water balance and the annual average ET of MODIS products. The R2 of the validation results are 0.61 and 0.78, respectively. The results show that the PT-JPL model tracks the change in ET in the HLS well. During 2000–2018, the ET, Ei, and Es increased at a rate of 1.33, 0.87, and 2.99 mm/a, respectively, while the Et decreased at a rate of 2.52 mm/a. (2) Vegetation restoration increased the annual ET in the region from 331.26 mm (vegetation-unchanged scenario) to 338.85 mm (vegetation change scenario) during the study period, an increase of 2.3%. (3) TMP (temperature) and VPD (vapor pressure deficit) were the dominant factors affecting ET changes in most areas of the HLS. In more than 37.2% of the HLS, TMP dominated the change affecting ET, and vapor pressure difference (VPD) dominated the area affecting ET in 30.5% of the HLS. Overall, the precipitation (PRE) and VPD were the main factors affecting ET changes. Compared with previous studies that directly explore the relationship between many influencing factors and ET results through correlation research methods, our study uses control variables to obtain results under two different scenarios and then performs difference analysis. This method can reduce the excessive interference of influencing factors other than vegetation changes on the research results. Our findings can provide strategic support for future water resource management and sustainable vegetation restoration in the HLS region.