Vegetation is sparsely distributed in the arid regions of northwestern China, and accurately measuring and partitioning of evapotranspiration is of importance for ecosystems in such areas. In this study, we measured and analyzed diurnal and phenological variations in evapotranspiration using the eddy–covariance method based on the Penman–Monteith, Priestley–Taylor, Shuttleworth–Wallace models, a newly proposed improved dual source model and a clumped model in a forest reserve in the Ejin oasis of Populus euphratica in 2015 and 2016 growing seasons. A sensitivity analysis was performed for the models with higher accuracies and we examined the biotic and abiotic controls on evapotranspiration. The results show that the total amounts of evapotranspiration during the two growing seasons in 2015 and 2016 were 622 and 612 mm, respectively. Phenological variations in evapotranspiration produced single-peak curves, while diurnal variations reflected the influence of high temperatures on some afternoons. The Priestley–Taylor and the improved dual source models gave the most accurate evapotranspiration values at the daily scale and appeared to be most suitable for the estimation of evapotranspiration for the species in arid regions. In addition, both models were the most sensitive to net radiation (R_n).