The interactions of water storage components within a basin, such as surface water, soil water, and groundwater storage, determine the dynamic patterns of terrestrial water storage (TWS). Using GRACE satellite data as a reference, this study estimated the spatiotemporal characteristics of TWS variations in the five rivers of the Lake Poyang Basin from 1960 to 2019 using GRACE satellite data. The lagged response of TWS to precipitation was examined through correlation analysis. A multiple linear regression analysis was used to investigate the influence of TWS and its components in the five rivers of the Lake Poyang Basin on the water volume of Lake Poyang. The results showed that annual TWS in the five rivers of the Lake Poyang Basin decreased at a rate of -0.07 mm/a between 1960 and 2011 (P1), but increased at a rate of 3.37 mm/a between 2012 and 2019 (P2). Compared with P1, P2 had an enhanced TWS surplus in spring and summer, and a weakened TWS deficit in autumn and winter. In spring and summer, changes in TWS in the western basin gradually changed from surface water-dominated changes to groundwater storage-dominated changes. In the eastern basin, TWS changes were primarily dominated by groundwater storage. During autumn and winter, changes in TWS in the basin were mainly driven by groundwater storage, and a reduced contribution of surface water to TWS changes. The response lag of TWS to precipitation in the basin exhibited a seasonal pattern, with short (1 month) in summer and autumn, and longer (3 to 6 months) in winter and spring. Increased contributions of groundwater storage and soil water to TWS changes prolonged the lagged response of TWS to precipitation, while surface water had the opposite effect on the lagged response. The TWS in the five rivers of Lake Poyang Basin showed a significant positive correlation with water volume of the main lake area of Lake Poyang. Concerning the major components of TWS, the increase in surface water and groundwater storage had a positive effect on the growth of the water volume of Lake, while the increase in soil water had a negative effect. This study provided insights into the changing characteristics of terrestrial water storage in the five rivers of the Lake Poyang Basin over the past six decades, offering valuable references for water resource management within the basin.