Changes in the micromorphology of joint surface under dry-wet cycling have a direct effect on the mechanical properties of the jointed rock masses, which in turn affects the deformation stability of the bank slope of a reservoir. In this study, we design and carry out a test that aims to quantity the effects of repeated rise and fall of a reservoir on the properties of a jointed rock masses. The results are as follows: first, the roughness, local gradient, and undulation of the joint surface gradually decreased under repeated dry-wet cycling. In addition, the height parameters and texture parameters showed a steep decrease followed by a slow decline. The deterioration was particularly obvious over the first 5 dry-wet cycles. Second, the roughness coefficient of the joint surface, the compressive strength of the face wall, and the basic friction angle were gradually reduced under dry-wet cycling. The shear strength of the jointed rock masses (obtained both quantitatively and experimentally) showed a deteriorating trend controlled by the deterioration of the micromorphology, the strength of the face wall, and the frictional properties of the joint surface. Finally, the dry-wet cycling process determined trends of changes in the microstructure parameters and mechanical properties of the joint surface. Our research results provide a good basis for the analysis of the deterioration and failure of rock masses within the hydrofluctuation belt of a bank slope.