<p>The Gravity Recovery and Climate Experiment (GRACE) satellite offers a contemporary methodology for analyzing regional groundwater dynamics, addressing the limitation of sparse groundwater monitoring networks. To investigate the groundwater storage dynamics in the Huaibei Plain, Anhui Province, China, this study quantifies the changes in groundwater storage from 2004 to 2023 using GRACE and Global Land Data Assimilation System (GLDAS) data. A comprehensive analysis is conducted on the spatiotemporal variations, influencing factors, and sustainability of groundwater resources. Results indicate that groundwater storage in the Huaibei Plain increased at an average rate of 0.027&#xa0;cm/a during the study period. Spatially, groundwater storage exhibited a decreasing trend from the central to the peripheral regions of the plain, with more pronounced changes in the southwestern areas compared to the northeastern regions. The classification of GWSA revealed irregular patterns. The correlation coefficient between inverted results and observed groundwater level changes from monitoring wells was determined to be 0.61. Geodetector and grey relational analysis were employed to identify factors influencing GWSA, revealing that groundwater extraction (63.6%) and population growth (53.8%) were predominant contributors. Over the study period, the groundwater drought condition in the region transitioned from partial mild drought to partial extreme drought and eventually to no drought across the entire area. Furthermore, the groundwater storage in the study area was found to be in an extremely unsustainable state. These findings underscore the practical utility of satellite-based groundwater storage estimation as a viable solution for overcoming the challenges posed by insufficient groundwater monitoring networks.</p>