The source region of the Yellow River (SRYR) is situated on the permafrost boundary in the northeast of the Qinghai-Tibet Plateau (QTP), which is an area highly sensitive to climate change. As a result of increasing global temperatures, the permafrost in this region has undergone significant degradation. In this study, we utilized Sentinel-1 to obtain ground surface deformation data in the SRYR from June 2017 to January 2022. We then analyzed the differences in terrain deformation under various environmental conditions. Our findings indicated an overall subsidence trend in the SRYR, with a long-term deformation velocity of −4.2 mm/a and seasonal deformation of 8.85 mm. Furthermore, the results showed that terrain deformation varied considerably from region to region, and that the Huanghe’ yan sub-basin with the highest permafrost coverage among all sub-basins significantly higher subsidence rates than other regions. Topography strongly influenced ground surface deformation, with flat slopes exhibiting much higher subsidence rates and seasonal deformation. Moreover, the ground temperature and ground ice richness played a certain role in the deformation pattern. This study also analyzed regional deformation details from eight boreholes and one profile line covering different surface conditions, revealing the potential for refining the permafrost boundary. Overall, the results of this study provide valuable insights into the evolution of permafrost in the SRYR region.