Leaf water content (LWC) has important physiological and ecological significance for plant growth. However, it is still unclear how LWC varies over large spatial scale and with plant adaptation strategies. Here, we measured the LWC of 1365 grassland plants, along three comparative precipitation transects from meadow to desert on the Mongolia Plateau (MP), Loess Plateau, and Tibetan Plateau, respectively, to explore its spatial variation and the underlying mechanisms that determine this variation. The LWC data were normally distributed with an average value of 0.66 g g-1. LWC was not significantly different among the three plateaus, but it differed significantly among different plant life forms. Spatially, LWC in the three plateaus all decreased and then increased from meadow to desert grassland along a precipitation gradient. Unexpectedly, climate and genetic evolution only explained a small proportion of the spatial variation of LWC in all plateaus, and LWC was only weakly correlated with precipitation in the water-limited MP. Overall, the lasso variation in LWC with precipitation in all plateaus represented an underlying trade-off between structural investment and water income in plants, for better survival in various environments. In brief, plants should invest less to thrive in a humid environment (meadow), increase more investment to keep a relatively stable LWC in a drying environment, and have high investment to hold higher LWC in a dry environment (desert). Combined, these results indicate that LWC should be an important variable in future studies of large-scale trait variations.