Evapotranspiration (ET) is a key variable in hydrologic cycle that directly affects the redistribution of precipitation and surface balance. ET measurements with high temporal resolution are required for coupling with models of highly dynamic processes, e.g., hydrological and land surface processes. The Haihe River Basin is the focus of China's industrial base and it is one of the three major grain-producing regions within the country. However, this area is facing serious water resource shortages and water pollution problems. The present study used geostationary satellite remote sensing data, in situ meteorological observations, and the surface energy balance system (SEBS) model with a new kB-1 parameterization to estimate 3-hourly and daily energy and water fluxes in the Haihe River Basin. The results of the SEBS model were validated with point-scale data from five observation flux towers. Validation showed that 3-hourly and daily ET derived from the SEBS model performed well (R2 = 0.67, mean bias = 0.027 mm/h, RMSE = 0.1 mm/h). Moreover, factors influencing ET were also identified based on the results of this study. ET varies with land cover type and physical and chemical properties of the underlying surface. Furthermore, ET is also controlled by water availability, radiation, and other atmospheric conditions. It was found that ET had strong correlation with the normalized difference vegetation index (NDVI). Specifically, daily ET fluctuated with the NDVI when the NDVI was <0.29, and ET increased rapidly as the NDVI increased from 0.29 to 0.81. For NDVI values >0.81, indicating a state of saturation, the rate of increase of ET slowed. This research produced reliable information that could assist in sustainable management of the water resources and in improved understanding of the hydrologic cycle of the Haihe River Basin.