This study used the Time Series Interferometric Synthetic Aperture Radar (TS-InSAR) technology and the ENVISAT ASAR dataset obtained between 2007 and 2010 and the Sentinel-1A dataset from 2017 to 2019 to determine the subsidence in the Shenzhen reclamation area, and used ASTER GDEM V2 to remove the phase jump caused by spectral decorrelation between bursts. Based on the time series of land subsidence of the reclamation area, a three-dimensional subsidence model of the reclamation area was established. By comparing and analyzing the subsidence results of two sets of satellite time series in the reclamation area, the temporal and spatial evolution of land subsidence and the cause of land subsidence in the reclamation area were analyzed. The results show that the test results of time series ENVISAT ASAR and Sentinel-1A have good continuity in subsidence spatialtemporal variation: From 2007 to 2010, the land subsidence in most areas of Shenzhen reclamation area is relatively stable, and the area where subsidence occurs is mainly distributed in Baoan District, the maximum subsidence rate in Baoan District is −23.12 mm/year. From 2017 to 2019, land subsidence in the reclamation area showed a tendency to spread and spread from west to east. The subsidence characteristics of Nanshan District are the most obvious, and the maximum subsidence rate is −17.52 mm/year.