Understanding the groundwater movement patterns and regulating functions of the karst vadose zone is essential in addressing water scarcity and protecting the ecological environment in the karst area of southwest China. A laboratory-scale experimental model of a typical karst vadose zone was constructed and used to simulate the water flow process under the influence of four factors: transfer zone thickness, surface slope, karstification degree, and rainfall intensity. A corresponding distributed model was subsequently developed to simulate the laboratory experiments. The discharge recession process, the regulating capacity, and the division of fast and slow flow were quantitatively analyzed by the recession coefficient, the regulating coefficient, and the percentage of fast flow and that of sinkhole flow. As the transfer zone thickness increases from 40 cm to 120 cm, the vadose zone regulating coefficient rises from 0.49 to 0.53, while fast flow decreases from 87.7% to 78.1%, indicating that the enhanced regulating capacity is mainly governed by the slow flow system. The evident difference in growth rates between the percentage of fast flow (an increase of 9.1%) and that of sinkhole flow (an increase of 48.7%) indicates that the decrease in regulating capacity resulting from an increase in surface slope is primarily due to enhanced water loss through sinkholes. When the structure of the karst vadose zone remains constant, the regulating coefficient decreases exponentially with increasing rainfall intensity and gradually approaches a constant value, which represents the maximum regulating capacity of the karst vadose zone under its current structural conditions.