<p>Groundwater is a vital component of the hydrological cycle, and understanding its dynamics is crucial for water resource management under climate change. This study employs GRACE-FO satellite data to assess groundwater storage (GWS) dynamics in Hunan Province during the 2024 flood season (April-September). Given the abundant surface water resources in this region, we explicitly incorporate the water storage of Dongting Lake and 28 large reservoirs when calculating surface water storage anomaly (SWSA), which is crucial for estimating the GWS anomaly (GWSA). Accordingly, GWSA is obtained by subtracting the soil moisture storage anomaly (SMSA) and SWSA from the GRACE-FO-derived terrestrial water storage anomaly (TWSA). Furthermore, correlation coefficients and contribution of each water storage component to TWSA are calculated to reveal inter-component interactions and response mechanisms to precipitation. Results show that original TWSA, SWSA, and GWSA increase markedly from March to July 2024. After detrending and deseasonalizing, SWSA and GWSA exhibit a complementary relationship (correlation coefficient: −0.20), with changes of −3.08 km³ and −1.12 km³ over the flood season, largely attributed to anthropogenic flood control operations. In contrast, SMSA and GWSA are weakly positively correlated (0.29), reflecting limited direct recharge efficiency. TWSA is strongly correlated with both SMSA (0.78) and GWSA (0.71), reflecting synergistic variation among water storage components. Consistently, GWSA contributes the most (44.52%) to TWSA fluctuations, followed by SMSA (31.80%) and SWSA (23.68%), highlighting the critical role of groundwater in the regional water cycle. These findings provide a valuable scientific basis for sustainable water resource management and regulation in Hunan Province.</p>