The interannual variation of the Bowen ratio, through its effect on the warming extent of available energy to the ecosystem land surface air, heavily influences the ecosystem microclimate and affects the hydrological cycle at both regional and global scales. Although the precipitation amount in southeast China is not expected to change greatly as a result of climate change, the precipitation frequency may be altered in the future. We explored the interannual variation of the Bowen ratio and its affecting mechanisms based on eddy covariance measurements in a subtropical plantation in southeast China during 2003-2012. The results indicated that the annual mean Bowen ratio was 0.35 ± 0.06, with a range of 0.29-0.45. The Bowen ratio during the dry season (July-October) positively correlated with the annual Bowen ratio (R(2) = 0.85, p<0.001). The effective precipitation frequency during the dry season, through its positive effect on shallow soil water content, indirectly and negatively affected the annual Bowen ratio. Between 2003 and 2012, the annual Bowen ratio exhibited a marginally significant decreasing trend (p = 0.061), meanwhile the effective precipitation frequency and shallow soil water content during the dry season increased significantly (p<0.001). The annual Bowen ratio may decrease further if the effective precipitation frequency and shallow soil water content during the dry season follow similar trends in the future. The warming effect of available energy to the surface air of our studied plantation may decline with the decreasing annual Bowen ratio.