Satellite retrieval of precipitation is an important primary data for large-scale hydro-meteorological research. However, precipitation data quality is greatly affected by climate, terrain, geographical location, and spatiotemporal scale. A comprehensive understanding of the spatiotemporal accuracy of relevant data is fundamental work for conducting hydro-meteorological applications. Taking the Han River Basin in the source area of the South to North Water Diversion Project in China as the research area, based on daily precipitation observed at ground stations, the spatiotemporal performance of MSWEP (Multi-source weighted-ensemble precipitation) V2.1 and IMERG (the Integrated Multi-satellitE Retrievals for GPM) V06 was evaluated. The results show that the classification and continuous accuracy indicators of MSWEP V2.1 are generally better than IMERG V06, and the overall performance is better. The classification accuracy and correlation coefficient in flood season are higher than those in dry season, but the quantitative error and uncertainty are more prominent. Therefore, applying MSWEP data for runoff evolution and other related research in the Han River Basin is recommended.