For the purpose of clean energy hydropower development, the construction of reservoirs has been continuously promoted in the Jinsha River basin for many years, and how the reservoirs affect the water and sediment process is a very necessary topic to study. This study is based on the gauged water and sediment data (span from the 1960’s to 2020) at Shigu, Panzhihua, and Xiangjiaba stations downstream located in the trunk channel of the river, and uses Mann-Kendall trend test method and double cumulative curve method to comprehensively judge the variation trends of runoff and suspended sediment load and reveal their credible mutation years. The linear regression method is used to reveal the variation characteristics of the relationship between water and sediment before and after the abrupt change years. The results show that the variations in runoff at Shigu and Panzhihua stations have significant and relatively obvious increasing trends, respectively, and that at Panzhihua station has a mutation year of 1985. The runoff at Xiangjiaba Station slightly increased but not significantly. The variation of suspended sediment load showed a temporal and spatial differentiation. The variation of sediment discharge at Shigu Station showed an increasing trend with a mutation year of 1997. For Panzhihua Station, it showed an increasing trend before 1998, but has significantly decreased since 1998. The fluctuation of sediment transport at Xiangjiaba Station was significant before 1998, but the trend is unclear. In the period of 1998−2020, it showed a significant decreasing trend, especially since 2013, when the mean annual suspended sediment load only accounted for 0.61% of its multi-year average. The variations of mean annual sediment concentration and sediment inflow coefficient at the hydrological stations is consistent with the variation trend of sediment transport. Before 2013, the correlation between water and sediment was strong, but thereafter it was extremely weak. The two sudden years of 1998 and 2013 are consistent with the year when large reservoirs were built in the river basin. The construction of large reservoirs and their large amount of sediment retention are the key reasons for the sudden changes in the water-sediment relationship and the sharp decrease in sediment transport in the downstream reach of the reservoir dam. The climate and underlying surface changes in the study area are not significant, and their impact on the water and sediment processes in the watershed is limited.