The investigation and research on the distribution, life-forms, and diversity of the vegetation have greatly promoted the progress of the restoration technology of the vegetation in water-level-fluctuation zone of the reservoir area. However, previous studies did not answer the question of how the distribution of vegetation in the riparian zone differed between two cascade reservoirs and the associated interannual variation of vegetation community characteristics. In addition, some areas in the lower Jinsha River belong to hot-dry valleys. The vegetation of the water-level-fluctuation zone in the reservoir areas of the lower Jinsha River is partly affected by the high temperature and arid climate, which would have a certain influence on the vegetation community characteristics of the water-level-fluctuation zone. That is, in the area of the lower Jinsha River, it is still unclear how the distribution of vegetation in the water-level-fluctuation zone in two cascaded reservoir areas and their interannual change. In 2019 and 2021, the vegetation communities of the neighboring Xiangjiaba and Xiluodu reservoir areas were investigated, respectively. The results showed that:(1) there were mainly three types of water-level-fluctuation zone in the lower Jinsha River:type of hard rock, type of soft rock, and type of loose and soft sedimentary zones with soil or sediments accumulated. Plants were mainly distributed in the loose and soft sedimentary zones with gentle slopes; (2) Overall, the dominant vegetation in the sedimentary zones were annual and perennial herbaceous plants. The single dominant species and less dominant species communities were common. Due to the periodic inundation and dry heat, the vegetation in the zone had a zonal distribution along the water level elevation. Significant differences in the important values of dominant species in the two reservoirs. Generally, a relatively few vegetation life types were found in the studied areas; (3) The vegetation community index of the zone in Xiangjiaba and Xiluodu reservoirs did not change significantly after six and eight periodic inundations, indicating that the vegetation community structure of the zone was relatively stable in the two-year time scale. Combining the differences in the important values of dominant species in the two reservoir areas, different vegetation restoration patterns of the water-level-fluctuation zone of Xiangjiaba and Xiluodu reservoirs were clarified. In summary, it is suggested that the restoration of vegetation in the fallout zone of Xiangjiaba and Xiluodu, two adjacent terrace reservoirs, needs to be dominated by irrigation and grass, and has different potential restoration patterns, so different restoration strategies need to be adapted accordingly. The study is of great significance for scientific guidance on the restoration of vegetation in the fallout zone of the reservoir area of the lower Jinsha River.