Using shallow-water buoy observations, reanalysis data, and numerical models, this study analyzes the variations in sea temperature and significant wave height (SWH) caused by two sequential tropical cyclones (TCs) ‘Lionrock’ and ‘Kompasu’ in October 2021 in the northeast Beibu Gulf, South China Sea. The results show that the sea surface temperature (SST) cooling of the nearshore waters was larger than the offshore water in the basin of the gulf, with the cooling amplitude and rate decreasing and the cooling time lagging behind wind increasing from coast to offshore. The near-surface temperature at the buoy station had a maximum decrease of 2.8 °C after ‘Lionrock’, and the decrease increased slightly to 3 °C after the stronger wind of ‘Kompasu’. The total decrease of 4.6 °C indicates that the sequential TCs had a superimposed effect on the cooling of the Beibu Gulf. The heat budget analysis revealed that the sea surface heat loss and the Ekman pumping rate in the nearshore waters during ‘Kompasu’ (−535 W/m2 and 5.8 × 10−4 m/s, respectively) were significantly higher than that (−418 W/m2 and 4 × 10−4 m/s) during ‘Lionrock’. On the other hand, the SST cooling (−1.2 °C) during the second TC is smaller than (−1.6 °C) the first weaker TC in the gulf basin, probably due to the deepening of the mixed layer. During the observation period, the waves in the Beibu Gulf were predominantly wind-driven. The maximum SWHs reached 1.58 m and 2.3 m at the bouy station near shore during the two TCs, and the SWH variation was highly correlated to the wind variation with a correlation of 0.95. The SWH increases from the nearshore to offshore waters during the TCs. The SAWN and ARCIRC coupled model results suggest that wave variations in the Beibu Gulf are primarily influenced by water depth, bottom friction, and whitecapping. Two days after the TCs, sea surface cooling and high waves appeared again due to a cold air event.